The interim government is likely to revise down the growth in gross domestic products at 5 per cent in the current financial year ending in the next June, said officials.聽聽聽
A meeting of the coordination council on macro-economy and resource聽 management in the next week will review the proposal of revising down the growth target from 6.8 per cent set by the deposed Awami League regime.
Finance adviser Salehuddin Ahmed will preside over the meeting at the secretariat.
Finance division officials blamed the ongoing financial crisis and slowdown in businesses amid the regime change for the downward in revision of GDP by 1.8 percentage points.
Besides, political uncertainties, weakening domestic demand and impact on agricultural production from recent floods caused slow economic growth.
The coordination council meeting will review the inflation rate hovering in double digits since October.
It will also review the revenue collection trend which was recorded 6 per cent negative in July鈥揝eptember of FY25 compared with the income during the same period of FY24.
International Monetary Fund, which is proving $4.7 billion loan since 2023 for tackling the foreign currency crisis, lowered the GDP forecast for FY25 to 4.5 per cent from the previous 5.7 per cent.
World Bank slashed the growth at 4 per cent from previous 5.7 per cent and Asian Development Bank cut the growth forecast to 5.1 per cent from earlier 6.6 per cent.
This will be the first meeting of the coordination council on macro-economy and resources management after the present government assumed power on August 8.
The meeting will also review a proposal to make down ward revision of the annual development programme of Tk聽2,65,000 crore.
Finance division officials said around Tk聽50,000 crore would be cut from the ADP to keep the budget deficit at around 4 per cent in the current FY25.