Credit flow to private sector marks 21.4pc rise until March last
FE Report | Tuesday, 10 June 2008
Credit flow to the private sector up to March last recorded an increase of 21.4 per cent compared to the growth of 16.6 per cent during the corresponding period of the previous fiscal.
"An accommodative monetary policy was pursed to maintain the momentum of the economy," Finance Adviser Mirza Azizul Islam said in his budget speech Monday.
On the other hand, long-term industrial loan disbursement increased to 66.1 per cent during the July-March period of the current fiscal which was only 26.4 per cent in the same period of the previous fiscal, according to the budget document.
Disbursement of agriculture credit also registered an increase of 56.7 per cent during the July-April period of the fiscal 2007-08 compared to the 7.8 per cent negative growth of disbursement during the corresponding period of the previous fiscal.
"We are fully aware of the need for private sector credit expansion," the finance adviser said, adding that the annual growth of such credit is expected to be between 19 per cent and 22 per cent in the medium term (fiscal year 2009-11).
"An accommodative monetary policy was pursed to maintain the momentum of the economy," Finance Adviser Mirza Azizul Islam said in his budget speech Monday.
On the other hand, long-term industrial loan disbursement increased to 66.1 per cent during the July-March period of the current fiscal which was only 26.4 per cent in the same period of the previous fiscal, according to the budget document.
Disbursement of agriculture credit also registered an increase of 56.7 per cent during the July-April period of the fiscal 2007-08 compared to the 7.8 per cent negative growth of disbursement during the corresponding period of the previous fiscal.
"We are fully aware of the need for private sector credit expansion," the finance adviser said, adding that the annual growth of such credit is expected to be between 19 per cent and 22 per cent in the medium term (fiscal year 2009-11).