Finance Minister AHM Mustafa Kamal on Monday said the inward remittance flow is likely to touch a new milestone of $25 billion in the current fiscal.
Although the inward remittance flow is a bit less now, at the end of the year, it is likely to reach $21 billion, he added.
“Considering the two upcoming biggest festivals of the Muslims (Eids), the inward remittance flow is likely to touch $25 billion. Hopefully, we'll be able to exceed $25 billion from export earnings this year,” he mentioned.
The Finance Minister said this virtually while replying to a volley of questions after chairing the meeting on the Cabinet Committee on Government Purchase (CCGP).
At the meeting, the CCGP approved 15 proposals worth around Tk 17,349 crore.
When asked about the attainments of Bangladesh over the last 50 years since independence, the finance minister said that the attainments over the years were not achieved at the same ratio.
He said it took around 38 years since independence to reach the country's GDP size to $100 billion, but the maximum attainments were made over the last 13 years under the dynamic leadership and farsighted thoughts of Prime Minister Sheikh Hasina.
He said that the country is moving ahead following the footsteps of Father of the Nation Bangabandhu Sheikh Mujibur Rahman while each and every citizen of the country wants to see more development of the country.
“We'll move ahead towards our desired goals through strengthening further our core areas of progress,” he added.
The finance minister also expressed his firm optimism that Bangladesh would become a higher middle income country by 2030 and a prosperous developed country by 2041.
Replying to another question about the outcomes of the recent Road Shows organized by the Bangladesh Securities and Exchange Commission (BSEC) in different countries of the world, Kamal said he personally does not believe that these Road Shows were directly related to the development of the capital market.
But, he believed that these Road Shows have effectiveness as the whole world now does not have the same perception about Bangladesh that they had had earlier.
Kamal said people around the world think that the successes of Bangladesh is a miracle, but this is not a miracle, rather it is a reality.
He said earlier Bangladesh could not fully utilize its areas of potential. “But, now under the dynamic leadership of Prime Minister Sheikh Hasina, Bangladesh has been implementing various plans like Five Year Plans, Perspective Plans and Delta Plan 2100. We think that we're in the right path,”
To questions, the Finance Minister expressed his high optimism of achieving targeted 7.2 percent GDP growth in the current fiscal year (FY22) since the country is on the right path towards development.
“Earlier, the GDP growth target in the current fiscal year (FY22) was set at 7.2 percent. I believe that we'll be able to attain that,” he said.
Kamal mentioned that the recent figures showed that the country has attained growth in almost all sectors as the export earnings witnessed a growth of over 31 percent in November while the July-November export earnings posted a healthy growth of 24.3 percent.
He mentioned the way export earnings are coming, the country is likely to fetch $47 to $48 billion from exports at the yearend which would also be a new milestone for Bangladesh.