Finance Minister AHM Mustafa Kamal has expressed the hope that the country's per capita income will go up to $3,089 dollars in the next financial year.

He was briefing reporters after the virtually held two consecutive meetings of Cabinet Committee on Economic Affairs and Cabinet Committee on Public Purchase on Sunday.

Read: Per capita income to exceed $ 3,000 this year: LGRD minister

He also defended the government’s recent decision to allow some of the local enterprises to invest abroad and set up business ventures there.

“If we don’t allow investment abroad, money will go to different countries through hundi”, he said adding that some export-oriented firms were given permission to invest abroad under certain conditions and compliances.

  He said those firms which have been exporting goods will get the opportunity to invest abroad by 20 per cent of their retention money or on the basis of their net assets.

Responding to a question on the projection of the International Monetary Fund (IMF) about slowing down the global economy, he said Bangladesh’s growth will continue.

"Last year, our GDP growth rate was 5.43 per cent and this year, our GDP growth will be 7.2,” he said defending his projection of $3,089 per capita income.

He said the size of the country's GDP will set a new milestone in the next fiscal year by touching the benchmark of half a trillion dollars. “Currently, our GDP is $455 billion and if it is divided into the total population, per capita income will stand at $2,785”.       

Read: Rebased GDP increases per capita income by almost 16%

He noted that the government expects the GDP growth will be 7.2 per cent while the IMF has made a prediction to be 6.6 per cent.

Meanwhile, the Economic Affairs Committee approved three proposals while 18 proposals were approved by the Cabinet Committee on Public Purchase.