Budget to be placed considering every citizen of Bangladesh: Khosru
The finance minister asserted that the country’s economy will be investment-based, coming out of the previous trend of printing money, taking hefty loans from banks and thus leaving the country in a negative condition.
Finance and Planning Minister Amir Khosru Mahmud Chowdhury today (3 June) said that the incumbent government would place the national budget for FY27 in Jatiya Sangsad on June 11, considering each and every citizen of Bangladesh.
"Insha Allah, this budget will be good to be placed on 11 June. This budget is being prepared and will be placed considering every citizen of Bangladesh…we're passing through a bad time, inherited a fragile economy; despite this, we're trying our best. This budget will be given keeping in mind every citizen of the country," he said.
The finance minister was talking to reporters at the Bangladesh Secretariat today.
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He noted that the country's economic condition is very fragile, coupled with a huge inherited debt burden, a rising poverty rate, and declining investment. "Despite this, we've assumed responsibility and we're trying to deliver a budget considering each and every citizen of the country,"
Khosru said they are trying to ensure the participation of all citizens in the economy so that the desired benefits reach to all concerned.
"Hopefully, this will be a good beginning from inheriting a fragile economy…although it will take some time, but the beginning will be good as we will be gradually moving towards betterment," he said.
The finance minister asserted that the country's economy will be investment-based, coming out of the previous trend of printing money, taking hefty loans from banks and thus leaving the country in a negative condition.
He said that the government has been working on restoring sound public financial management to prevent the country from falling into a debt trap in the coming days, as a huge amount is now being spent to repay the interests of loans in the national budget.
"We're trying our best to reduce our dependency on loans and thus enhance our reliance on investment. We'll have to reduce our operating cost gradually and thus raise investments," he said.
Khosru said that the current government, after assuming responsibility, has been working tirelessly to correct the distortions that prevailed in the economy and thus restore proper macroeconomic stability in order to ensure discipline in the financial sector.
"These efforts in true sense will protect the interests of the people of Bangladesh and thus we'll be able to materialise our dream of becoming a trillion-dollar economy," he added.
