Next budget will be challenging than previous years: Debapriya

Preparing national budget for the next fiscal year will be more challenging than any previous years as the Bangladesh economy is passing through a tough time and the geopolitical developments are influencing the economy, Debapriya Bhattacharya, a distinguished fellow at the Center for Policy Dialogue (CPD), said today.

The economy is reeling from high inflation and rising pressure on the external account, he said, adding that economic activities are slowing down too.

"Under the circumstances, ensuring macroeconomic stability should be the topmost priority. It is like diabetes. If we cannot control it, it affects the rest of the organs of the body."

The economist made the comments at a discussion on the budget for 2024-25 fiscal year.

Private television channel NTV organised the programme at Pan Pacific Sonargaon Dhaka this evening.

Steps to control inflation will get priority in the upcoming national budget, Waseqa Ayesha Khan, state minister for finance, said at the event.

Along with this, there will be a system to ensure social security, she said, adding the fiscal measures will be designed to attain the commitments made in the Awami League's manifesto declared before the election.

She said the upcoming budget will incorporate the measures to reduce unemployment.

Mashiur Rahman, economic affairs adviser to the prime minister, said they will take measures to ensure socio-economic progress.

Moderated by Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry; Saleh Uddin Ahmed, former governor of Bangladesh Bank; Mohammad Hatem, executive president of Bangladesh Knitwear Manufacturers and Exporters Association, and Zaidi Sattar, chairman of the Policy Research Institute of Bangladesh, also spoke at the occasion.