No area of economy has negative growth: Kamal

Finance Minister AHM Mustafa Kamal on Tuesday said there is no sector of the economy that has negative growth.

He made the claim while briefing reporters on the outcomes of the two consecutive meetings of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Public Purchase. He presided over the two meetings held virtually on today.

“You can easily find a calculation of the economy. There is no inflation while our exchange rates remain stable. When globally remittance was facing tough times, our (inward) remittance achieved 15 per cent growth”, he said defending his claim.

He also said that the country’s revenue generation obtained 30 percent growth while the import and IT sector witnessed growth too.

Kamal said though remittance is not considered while calculating the GDP growth, it comes to the per capita income’s calculation.

“These are the areas of the economy...If there is any negative growth, it will be reflected into the economy”, he said.

Referring to his budget speech, the finance minister said his prediction in the previous fiscal year 2020-21 proved correct in the economic growth. The predictions were close to the World Bank’s projections, reports UNB.

He said it was possible because of the people's participation and efficient leadership of Prime Minister Sheikh Hasina.

“Our expansionary monetary policy has played a role in this regard. We followed this policy when many countries in the world didn’t dare to take this path”, he said adding, these were reasons for the economic growth.

He said that whatever the way you calculate the economic growth, finally you find the same result. “We have given the clarifications.”

Kamal said somebody may say that it was not a correct calculation, but you can yourself see our achievements. “Nobody can show this achievement anywhere”, he said.