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The government is likely to review its GDP growth target for the current financial year in view of the relatively minor impact of the global economic downturn on Bangladesh, the finance minister said on Saturday.
"GDP growth target for the current fiscal year was fixed with the world recession in mind, but that target will now be reviewed," finance minister AMA Muhith told bdnews24.com.
Muhith said the overall economic picture suggested the recession would have "little impact" on Bangladesh. He, however, cautioned that the situation was not entirely clear and it would be at least three months before the GDP target would be revised. The projected GDP growth target for the current fiscal was fixed at 5.5 to 6 percent in the current budget, compared to GDP growth of 5.88 percent in the FY 2008-09.
"We are looking at the worldwide scenario. It is
undoubtedly a good sign that many countries are now coming out of recession," said Muhith.
He also said, since the government assumed power in January, his ministry has repeatedly said the global recession would have little effect on Bangladesh, although civil society and others warned of "dire consequences".
Muhith said a second-round of meetings of the ''recession taskforce''-formed earlier in the year to formulate measures against impact of the global downturn-was likely to be held in the first week of September.
"We will then decide on fresh measures to combat any recession fallout," he said.
The finance minister''s comments come ahead of a meeting on Sunday with four ministers to chalk out a strategy to strengthen foreign missions and exploit new overseas markets for manpower and goods.
"The meeting was called to identify effective measures for foreign missions to enhance export of manpower to new markets in light of the recession," said Muhith.
Commerce minister Faruk Khan, foreign minister Dipu Moni, employment minister Khandaker Mosarraf Hossain and home minister Sahara Khatun are expected to attend the meeting, to be chaired by the finance minister.
Overseas Bangladeshi workers remitted $9.69 billion in the FY 2008-09, while $15.56 billion came from exports.

source : http://www.newstoday-bd.com