>both local, foreign investment dips

>BOTH local and foreign investment took a slide in last fiscal year (FY) though the government has aimed at creating about 1 crore jobs in the next three years, Rejaul Karim Byron reports in The Daily Star.
The downtrend in local investment however continued since FY 2006-2007 due to failure in implementing the annual development programme (ADP), an analysis of government data shows.
Besides the downtrend in investment, quality of investment also took a downward dive and it is reflected in the incremental capital-output ratio (ICOR).
The total investment in the last fiscal year was 24.2 percent of the gross domestic product (GDP) which was 24.5 percent in the preceding FY. The investment was 24.7 percent of the GDP in FY 2005-2006.
Public investment was only 5 percent of the GDP in the last FY, while it was 5.5 percent in FY 2006-2007.
Data shows public investment did not see any rise in the last six FYs with significant downtrend in the last three FYs.

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