Finance minister defends 9% GDP per capita growth

Finance Minister AHM Mustafa Kamal on Wednesday defended a 9 percent growth in GDP per person, saying that pro-people policy and higher government spending has contributed to this increase.

The planning minister on Monday disclosed that the country’s GDP per capita reached $2,227 for the outgoing fiscal year, up from $2,064 a year ago.

“Our Prime Minister Sheikh Hasina’s bold steps, including huge stimulus packages, have helped the country’s people stand up on their foot during the pandemic,” Kamal told reporters after a virtual meeting on the cabinet committee on public purchase and economic affairs.

The minister also said strong macroeconomic fundamentals have helped Bangladesh achieve a 9 percent annual growth in GDP per capita.

He also said the country’s macroeconomic stability has become stronger with 8.7 percent export growth.

Gross domestic product or GDP is the total value of all goods and services produced in a country in a year. It is a very important indicator of the economic strength of a country. GDP per capita is calculated by dividing the GDP of a country by its population.