Bangladesh is one of the nine guest countries of the summit this year
4,621 loan recipients to get the benefit, the finance minister said at the parliament
Self-contradictory is what best describes Finance Minister AHM Mustafa Kamal’s fifth budget, and the last of the Awami League-led government’s current term.
Finance Minister AHM Mustafa Kamal today in his budget speech hoped that the ongoing stress in the foreign exchange reserves would improve in a short period of time.
Finance Minister AHM Mustafa Kamal today proposed formulating rules for authorising tax return preparers (TRPs) in Bangladesh with a view to expanding the tax net by adding more individual taxpayers.
In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.
The top 20 defaulters in the country have a total debt of Tk 19,283.93 crore while the amount of defaulted loans is Tk 16,587.92 crore.
Islami Bank, Social Islami Bank and First Security Islami Bank lent about Tk 9,500 crore under suspicious circumstances, as reported by different media. Of the sum, Tk 7,246 crore has been taken from Islami Bank alone.
The government yesterday sought more loans in concessional terms from the World Bank despite being the largest recipient of such funding as well as more budget support as it looks to shake off the impacts of the pandemic and the Ukraine war.