Staff Reporter :
Despite early signs of economic stabilisation-including a slight decline in inflation and efforts to stabilise the foreign exchange market-Bangladesh’s broader economic reform agenda remains hampered by deep-rooted structural challenges and weak governance, according to economist Dr. Debapriya Bhattacharya.
Speaking at a discussion titled “Bangladesh Economy 2025-26: Policy Reform and National Budget,” held at the Lakeshore Hotel in Dhaka, Bhattacharya, the convenor of the Citizen’s Platform for SDGs, Bangladesh, and a distinguished fellow at the Centre for Policy Dialogue (CPD), offered a critical assessment of the country’s economic trajectory.
“We are not witnessing the kind of structural transformation or decline in anti-equity biases that would indicate a genuine shift in economic governance,” he said.
Bhattacharya noted that economic reform continues to receive insufficient focus compared to other policy areas. “Without economic stability, no reform-regardless of the sector-can be sustainable,” he emphasised.
Looking ahead to the FY26 national budget, he warned that it is likely to be shaped by three key deficits: a lack of inclusivity and cooperation, poor inter-agency coordination, and limited transparency in both formulation and implementation.
“There has been negligible public engagement in the budget formulation process,” he said. “No significant dialogues took place outside Dhaka, and even within the capital, diverse voices were largely excluded.”
Commenting on the recent move to separate tax policy from tax administration, Bhattacharya expressed support for the idea in principle, aligning it with recommendations from the CPD’s white paper. However, he criticised the manner in which the reform has been rolled out.
“The separation was implemented without adequate consultation, reduced the role of professionals, and expanded bureaucratic control. This risks weakening the reform’s effectiveness,” he stated, calling for a more inclusive and transparent process.
Bhattacharya also raised concerns over the ongoing pen-down strike by National Board of Revenue (NBR) officials, warning that it could further strain revenue collection efforts and deepen existing fiscal challenges.
