The 7.3% growth target set in the proposed budget for the fiscal year 2014-15 is attainable only if stable political environment is ensured with increased competency in wealth management, says an analysis carried out by the Bangladesh Economic Association (BEA).
BEA analysis also found that the challenges to implement the proposed budget are not so difficult to face, bringing down the projected inflation at 7%, as yield of rice has been good this year while food price in the world market is also in a declining trend.
BEA General Secretary Dr Towfique Ahmed Chowdhury presented the analysis yesterday at a press conference on the proposed budget held at the BEA auditorium in the city. BEA President Dr Abul Barkat and other committee members also attended the press conference.
Terming the political uncertainty as the main obstacle to achieve the growth target Abul Barkat hoped that it would be possible to reach the growth target as the finance minister in his budget speech had repeatedly assured us of ensuring sustainable political situation for attaining economic growth.
“Providing infrastructural facilities and bring down the cost of doing business is one of the way to easily enhance the private sector investment but the budget did not define any certain strategy in this regard,’’ he, however, said.
Both the government and the Bangladesh Bank have to take effective measures of uninterrupted individual financing.
Recent forgeries occurred in the banking sector made the bankers reluctant to disburse loans, on the other hand businessmen are also unwilling to take loan due to higher interest rate. The government and Bangladesh Bank should jointly sit to resolve this crisis, Barakat added.
Source: UNBConnect
