Bangladesh plans to offset 40% of budget deficit with foreign borrowing
Chief Economics Correspondent, bdnews24.com
Published: 2016-06-02 18:41:36.0 BdST Updated: 2016-06-02 20:34:24.0 BdST
The government plans to meet nearly half of the Tk 978.53 deficit in the proposed Tk 3.41 trillion budget with loans from foreign entities.
The proposal was made in the budget for FY 2016-17 which Finance Minister AMA Muhith presented in Parliament on Thursday.
The government plans to go for Tk 389.47 billion in foreign loans to balance 40 percent of the deficit.
However, Tk 81.58 billion of that sum will be spent to pay back the interest on the previous loans, leaving the neat amount of foreign loans at Tk 307.89 billion.
In the current fiscal’s budget, the foreign loan target was set at Tk 322.39 billion. But it was later revised to Tk 274.7 billion.
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