Controlling inflation given highest priority in FY 2022-23 budget: PM
Prime Minister Sheikh Hasina told the parliament today that the budget has given the highest priority to control inflation in the upcoming fiscal year.
"I think the budget has been able to give the highest priority to firmly face inflation created due to the current global instability and the pandemic," she said.
The premier said this while taking part in the general discussion on the proposed national budget for 2022-23 fiscal.
Hasina has also advised the people of the country to practice austerity in the wake of global inflation.
"Everyone has to increase their own savings, everyone has to be economical. Everyone has to protect themselves by saving something, by practicing austerity," she said.
Noting that the government is discouraging the import of luxurious goods, the PM urged all not to import goods that are not essential.
The prime minister also mentioned that in May 2022, the UK registered 9% inflation, the United States 8%, India 7.9% and Turkey 54.8%, but during this period, inflation in Bangladesh has increased to 7.42% and the average inflation is 7.2%.
Sheikh Hasina said the government will take proper measures to reduce dependency on imported goods.
In this context, she urged all to pay attention to the consumption of local products and services.
Hasina said the government has been able to give such a large budget of Tk 6,78,064 crore despite such an adverse situation caused by the Ukraine war following the Covid-19 pandemic.
"Many people couldn't think that we would be able to place it (the budget), but we've been able to do it," she said.
"We'll be able to implement the budget, placed for the 2022-23 fiscal year, successfully with all-out support of the people," said Sheikh Hasina.
She said Bangladesh will have to go forward facing the adverse impacts of the war and coronavirus pandemic and will be able to do so.
"We are making the impossible possible by overcoming hundreds of obstacles both at home and abroad, '' she said.
Bangladesh has successfully been able to maintain economic progress when many developed countries are facing difficulties due to global instability, she added.
She said the government is taking all necessary measures to control inflation due to the price-hike of goods in the global market.
The PM said the main strategy to keep inflation under control will be -- raising the supply of goods and reducing the existing growth of demand. "Reducing inflation is our big target," she added.
The Padma Bridge which was recently opened to traffic, has brought a revolutionary change in the communication system and is easing the supply of goods and will also help reduce the inflation rate, Sheikh Hasina noted.
Hasina extended her sincere gratitude to the finance minister and all others who were involved in the budget preparation.
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