6 challenges for Finance Minister
Finance Minister AHM Mustafa Kamal sees six major challenges for the fiscal year 2022-23:
"As in previous years, I have consulted with top business organisations, reputed economists, and media personalities as part of budget preparation for FY 2022-2023. Besides, I gathered suggestions on the budget from the ministries/divisions and different organisations," he said in his budget speech today.
Based on discussions, proposals and analysis, major challenges for FY 2022-23 would be:
1. Containing inflation and enhancing domestic investment.
2. Financing additional subsidies required for increased price of gas, power and fertiliser in international markets.
3. Utilising funds available through foreign assistance and ensuring timely completion of high priority projects of ministries/divisions.
4. Ensuring timely completion of projects in education and health sectors.
5. Increasing collection of local value added tax (VAT) and raising the number of individual taxpayers.
6. Maintaining stability in the exchange rate of taka and keeping foreign exchange reserves at a comfortable level.