Govt borrowing from banks rises to Tk81,000cr
This has already exceeded the initial borrowing target by Tk33,636 crore and the revised target by Tk8,047 crore
The government borrowing from the banking system for meeting the budget deficit increased to Tk81,000 crore till May 13 this year due to a dismal revenue collection amid the novel coronavirus outbreak.
Of the borrowed amount, the government took around Tk28,863 crore in loans in just two and a half months since the Covid-19 outbreak began in Bangladesh.
According to the Bangladesh Bank data, the government's outstanding bank borrowing stood at Tk189,096 crore as of May 13 this year, which was Tk108,095.7 crore on June 30, 2019.
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In the budget for the fiscal year 2019-20, the government initially projected to borrow Tk47,364 crore from the banking sector. The target was later revised to Tk72,953 crore.
The latest borrowing figure shows that the government's bank borrowing has already exceeded the initial target by Tk33,636 crore and the revised target by Tk8,047 crore with another critical one and a half months remaining till the fiscal year ends.
