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Published : 30 Apr 2026, 07:43 PM
Finance Minister Amir Khosru Mahmud Chowdhury has warned that a series of “unpopular decisions” might be required over the next two years to lift Bangladesh out of its economic crisis.
Addressing the parliament on Thursday during the discussion on the thanksgiving motion for the president’s speech, the minister painted a grim picture of the nation's financial health, bracing the public for a period of significant austerity and reform.
"The next two years will be difficult. We will have to endure hardship," Khosru told the House.
"The government will need to take several steps and decisions that may not be popular, but are essential to navigate this crisis."
His remarks come as the new BNP-led government grapples with a battered economy inherited from the ousted Awami League administration.
During Sheikh Hasina’s 15-year rule, the financial sector was allegedly hollowed out by systemic corruption, widespread looting of banks, and massive money laundering.
Inflationary pressures and dwindling foreign exchange reserves had already pushed the economy to the brink before the 2024 mass uprising.
A subsequent white paper commissioned by the interim government further detailed the extent of the economic damage caused by the previous regime.
The economy faced a new external shock following the outbreak of the Iran war on Feb 28.
The conflict has piled fresh pressure on the energy sector and global supply chains, complicating the new government's recovery efforts.
Khosru argued that the economy had been dragged to such a low level that superficial fixes are no longer viable.
He emphasised the need for "hard reforms", deregulation, and fundamental structural changes to restore stability.
"To lift the economy from this depth, we must implement rigorous reforms and structural shifts," he said.
