An onslaught of crises is hitting developing countries the hardest. Multiple challenges—climate change, surging debt, sticky inflation, high interest rates, depreciating currencies, conflict, and food insecurity—are imperiling families' ability to put food on the table, send their children to school, and weather natural disasters.
The private investment-to-GDP ratio in Bangladesh declined in the current fiscal year owing to a lower confidence among investors amid the persisting dollar crisis and global uncertainty, higher inflation and a fall in demand for goods in international markets.
Finance Minister AMA Muhith has really dreamt of a big budget in every respect -- from expenditure to revenue generation. And he no longer wants to live in the 6 percent GDP class to push beyond 7 percent. But his big dream promises to put extra pressure on people across the board, as he plans through his VAT and other tax proposals to extract that extra penny from every pocket.
In the stumbling block of concrete mess at Moghbazar, Minhaz Abedin waits patiently every day, worrying about his unemployed son, something he has been doing for the past three years now.
The size of the upcoming budget may go up by 30 percent from the current fiscal year's revised outlay as the government seeks to fast-track the giant projects and complete one or two in its current tenure. The planned Tk 340,600 crore budget for fiscal 2016-17 would be 17.4 percent of the gross domestic product. In terms of share in the GDP, the planned budget is almost the same as the budget of fiscal 2015-16.
According to Bangladesh Bureau of Statistics' (BBS) provisional data, the economy is projected to grow at a rate exceeding 7 percent in the current fiscal.
Bold and aggressive measures are needed to establish specialised economic zones to attract private investment. Large scale public investments are required for special economic zones. Thus, the call for very ambitious growth target for revenue seems justifiable.
An onslaught of crises is hitting developing countries the hardest. Multiple challenges—climate change, surging debt, sticky inflation, high interest rates, depreciating currencies, conflict, and food insecurity—are imperiling families' ability to put food on the table, send their children to school, and weather natural disasters.
The private investment-to-GDP ratio in Bangladesh declined in the current fiscal year owing to a lower confidence among investors amid the persisting dollar crisis and global uncertainty, higher inflation and a fall in demand for goods in international markets.
Finance Minister AMA Muhith has really dreamt of a big budget in every respect -- from expenditure to revenue generation. And he no longer wants to live in the 6 percent GDP class to push beyond 7 percent. But his big dream promises to put extra pressure on people across the board, as he plans through his VAT and other tax proposals to extract that extra penny from every pocket.
In the stumbling block of concrete mess at Moghbazar, Minhaz Abedin waits patiently every day, worrying about his unemployed son, something he has been doing for the past three years now.
The size of the upcoming budget may go up by 30 percent from the current fiscal year's revised outlay as the government seeks to fast-track the giant projects and complete one or two in its current tenure. The planned Tk 340,600 crore budget for fiscal 2016-17 would be 17.4 percent of the gross domestic product. In terms of share in the GDP, the planned budget is almost the same as the budget of fiscal 2015-16.
According to Bangladesh Bureau of Statistics' (BBS) provisional data, the economy is projected to grow at a rate exceeding 7 percent in the current fiscal.
Bold and aggressive measures are needed to establish specialised economic zones to attract private investment. Large scale public investments are required for special economic zones. Thus, the call for very ambitious growth target for revenue seems justifiable.
