World Lender prediction on Bangladesh market inconsistent: Finance minister

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Financing Minister AHM Mustafa Kamal has said the World Lender is not regular in its prediction about Bangladesh's economy.

"Sometimes, they make a prediction and frequently shift positions," he told reporters after a gathering of the Cabinet Committee in Public Purchase today.

His remarks come against the background of World Bank's forecast that Bangladesh's GDP growth will be 1.6 percent in the fiscal year 2020-21 when the government set it at 7.4 percent in the national spending budget.

On the monetary performance, Mustafa Kamal said Bangladesh has been doing better compared to other countries.

"All of the sectors are executing very well, except imports. Imports possess decreased resulting in a downturn in income collections," he said.

He said the federal government will review the problem and take some steps to boost revenue collection.

Black money whitening

The finance minister defended the recent report which said about Tk 10,000 crore was whitened by some persons in the country during the pandemic.

He said the federal government has announced a good provision in the spending plan to facilitate whitening of black money.

"This money was dark-colored due to our own insurance policy," he stated adding that persons were not interested in registering after purchasing flats and land due to high registration service fees and great stamp duty.

After the government lowered stamp duty and registration fee people are actually registering real-estate homes, he further said.

Source: https://www.thedailystar.net

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