Finance Minister unveils Tk 761,785 crore national budget

Bangladesh‍‍`s Finance Minister AHM Mustafa Kamal has unveiled the national budget of Tk 761,785 crore for the fiscal year 2023–24.

The finance minister rolled out the budget at the Jatiya Sangsad on Thursday (June 01, 2023).

This is the 5th consecutive budget presented by the finance minister and last of the current Awami League government.

The budget focuses on driving the country on an incremental economic-growth matching Bangladesh‍‍`s LDC-graduation route and fulfilling the conditions of the International Monetary Fund (IMF) for a loan of $4.7 billion.

The proposed budget is 15.2 percent of the Gross Domestic Product (GDP).

Of the total proposed budget, Tk 475,281 crore is allocated for operating expenditures, and the rest, Tk 277,582 crore, for development purposes.

The total revenue earnings target was set at estimated Tk 5 lakh crore, Of which, the National Board of Revenue (NBR) will collect Tk 4.30 lakh crore, and the rest will be collected from other sources.

The proposed budget‍‍`s overall deficit, including grants, will be Tk 257,885 crore, which is 5.2 per cent of the GDP.

The inflation target is set to 6.5 percent though current inflation rate is over 9 percent.