Mustafa Kamal placing budget for FY 2020-21
All eyes on parliament as finance minister is unveiling the budget
Finance Minister AHM Mustafa Kamal is placing the Tk568,000 crore budget for fiscal year 2020-21 in parliament today.
This is the second budget for both the present government and Finance Minister AHM Mustafa Kamal.
Bangladesh eyes to recover the pandemic-hit economy with the new budget, which is the country's 49th, and the Awami League's 21st.
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Amid limited economic activities to cope with the pressure of rising costs, a revenue target of Tk330,000 crore has been set for the National Board of Revenue (NBR).
Even so, the government expects to attain 8.2 percent GDP (gross domestic product) growth in the new fiscal year with an estimated budget deficit of 6 percent.
Various international organisations, including the International Monetary Fund, the World Bank and the Asian Development Bank, have predicted that Bangladesh's growth will be much lower in the coming financial year.
Research institutes at home and abroad have said it will take 2-3 years for the country's economy to recover from the fallout of Covid-19.
