Finance
8th Five Year Plan Eighth Five Year: Plan to reduce extreme poverty to 7.4 percent
Dhaka, December 29: The National Economic Council (NEC) has given final approval to the Eighth Five-Year Plan (July 2020 to June 2025). The approval was given at an NEC meeting chaired by Prime Minister Sheikh Hasina at noon on Tuesday (December 29).
After the NEC meeting, Planning Minister MA Mannan, Planning Department Member Senior Secretary Asadul Islam and Planning Kashiman General Economics Department Member (Senior Secretary) Dr. Shamsul Alam presented the information.
They said the implementation of the eighth five-year plan will require a total of Tk. 64,099.8 billion. Of which 88.5 percent will come from domestic sources and 11.5 percent will come from foreign sources.
Of the total investment, Tk. 12,301.2 billion will come from the public sector, which is 18.9 percent. The private sector will come to Tk. 52,658.6 billion, the size of which is 81.1 percent.
The GDP growth target has been set at 7.40 per cent in FY 21, 7.70 per cent in FY 22, 8 per cent in FY 23, 8.32 per cent in FY 24 and 8.51 per cent in FY 25.
At this time, the government will create employment for 2.01 million people in FY 21, 2.13 million in FY 22, 2.26 million in FY 23, 2.41 million in FY 24 and 2.52 million in FY 25.
In the Eighth Five-Year Plan, the poverty rate will be brought down to 15.6 percent in FY 25. And in FY 25, the extreme poverty rate will be brought down to 7.4 percent.
