The growth target of credit in the private sector for the last half of the fiscal year has been increased, with 9.8 per cent growth until June this year.
The growth rate was 7.3 per cent in the first six months of the fiscal year as of December last year. That means, the growth target for the private sector has been escalated by 2.5 percentage points.
Bangladesh Bank (BB) Monday announced its new monetary policy for the second half (January-June) of the ongoing financial year.
The revised credit target for the private sector has been mentioned there. However, though the target for the private sector has been hiked, this was slashed for the government sector.
The monetary policy set a target to bring down the credit growth rate in the government sector to 17.5 per cent at the end of June, which was 18.1 per cent at the end of December last year.
Bangladesh Bank thinks this policy would help internal credit flow, which has been set at 11.5 per cent at the end of the ongoing fiscal year. The growth was 9.4 per cent in December last year.
Bangladesh Bank governor Ahsan H Mansur announced the new monetary policy in presence of other top officials of the central bank.