UINB, Jatiya Sangsad :
Finance Minister AHM Musatafa Kamal has said that containing inflation, improving current account balance and stabilizing foreign exchange rate are the main challenges for the country’s economy.
“Overall, our current challenge is to control inflation, improve the current account balance situation and stabilise the foreign exchange rate,” he said while unveiling national budget FY 2023-24 at the Jatiya Sangsad on Thursday.
He said, “Strategies to deal with sustainable transition and post-transition realities from LDCs in the days ahead need to be determined now. In particular, tariff rationalisation, domestic resource mobilisation to meet fiscal deficit, withdrawal of subsidy/cash assistance or exploring alternatives etc. should be considered now.
He mentioned that adequate growth in revenue as percentage of GDP, ensuring efficiency in government spending and facilitating bilateral and multilateral financing and attracting domestic and foreign investment should be focused on for the provision of necessary resources to meet social security expenditure and carry out essential development activities.
“You have already been informed of the outline of Smart Bangladesh. Bearing in mind the outline of Smart Bangladesh, we are working out a strategy for transformation of Bangladesh at the behest of the Prime Minister to turn it into a developed nation”.
The Budget Speech is accompanied by the ‘Medium-Term Macroeconomic Policy Statement (MTMPS)’ containing the medium-term policy strategies.
This policy statement elaborates our medium-term macroeconomic objectives, taking into account our prospects and challenges, he said.
