FT Online

Published:
2019-07-01 12:26:38 BdST

'Bangladesh will provide loan to other countries'


Finance Minister AHM Mustafa Kamal has said Bangladesh would not implement budget with the bank loan by 2030 and the country will provide loan to other countries.

The finance minister also said Bangladesh is the least bank loan recipient country in the world as the country's loan recipient percentage is only 34 per cent while it is 285 per cent in China.

Kamal came up with the remarks while winding up the general discussion on the proposed budget for 2019-20 fiscal at the parliament in Dhaka on Saturday, reports BSS.

Regarding the proposed budget, the finance minister said, “I am very hopeful on a sustained basis … the proposed budget will achieve 10 per cent growth by 2024.”

The finance minister said the proposed budget has been prepared in an easy way as it has not been imposed the rate of the tax but it has been proposed to increase the purview of tax net.

The budget, has been framed with the guidelines of Prime Minister Sheikh Hasina, which has equipped with some new components and demands that is a good initiative, the finance minister told the house.

Terming the proposed budget as the foundation, he said the budget has been proposed not for a single fiscal year, but it will create a foundation for all the budgets which would help turn the country into a prosperous one by 2041.

Kamal thanked the Prime Minister for rightly place the budget on the house as he was unable to present the budget fully for his illness.

Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.


Popular Article from Exclusive