Dhaka, Bangladesh (BBN)-The Bangladesh government has set 7.0 percent gross domestic product (GDP) growth target for fiscal 2015-16.

Finance Minister AMA Muhith revealed the target while placing national budget for 2015-16 fiscal year in the National Parliament in Dhaka Thursday afternoon.

The minister pointed out that pay rise in the public sector and strong remittance flows will hopefully increase consumer spending.

Besides, ongoing government initiatives for skill development and unhindered participation of women in the production process will enhance the productivity and supply of labour thereby accelerating the pace of growth, the minister said while unveiling the budget.

“Based on these assumptions and expectations, we have set the GDP target at 7.0 percent for FY 2015-16,” Muhith said.

In the previous year, the GDP target was 7.3 per cent.