ADP implementation 20pc in July-Nov

FE Team | Published: December 09, 2018 23:37:09

The government spent Tk 364.38 billion for projects under the Annual Development Programme (ADP) during July-November period of the current fiscal year (FY 2018-19) with an implementation rate of 20.15 per cent.
The expenditure in the first five months is Tk 34.41 billion higher than that of the corresponding period of the previous fiscal (FY18) when the expenditure was Tk 329.97 billion, reports BSS.
The government is hopeful about achieving full implementation of the ADP in the current FY, Planning Minister AHM Mustafa Kamal said on Sunday, revealing the latest data at a 'Meet the Press' programme at the NEC Conference Room in the city's Sher-e-Bangla Nagar area.
"If the current momentum continues, we expect that the GDP growth rate in the current fiscal year would reach 8.25 per cent to 8.30 per cent," he said.
Noting that all the major macroeconomic indicators are now positive, Mr. Kamal said that the inward remittance at the end of this year would reach US$ 16 billion while the export earnings have already witnessed near 19 per cent growth during this July-November period.
"If such momentum continues, it would be much easier for us to attain the desired GDP growth and thus poverty including extreme poverty will be alleviated at a desired rate, there will be marked development in education and health services while the social safety net operations will be deepened," he added.
The minister said that the government has been implementing various programmes to bring down the poverty rate at around 3.0 to 4.0 per cent by 2030 from the current level of 21 per cent.
Noting that the agriculture, manufacturing and the services sectors have flourished a lot over the years while the ICT sector is booming, he said the country would be able to attain double digit or 10 per cent growth rate by the year 2021.
Answering to a query, the planning minister said continuity of the current government is necessary for ensuring smooth implementation of those mega and big projects which are regarded as the 'lifeline' of the country's economy.
Replying to another question, he said a good political situation is now prevailing in the country centering the upcoming general election as all the major political parties are going to participate in the election.
Asked about the current state of the banking sector, Mr. Kamal said there might be some weaknesses in the oversight of the sector, but he is not at all panicked at the current situation.