Budget targets Tk 615 billion borrowing from internal sources to bridge deficit

The proposed budget for 2016-17 has set to borrow Tk 615.48 billion from internal sources to bridge the deficit.

In his budget speech on Thursday, Finance Minister AMA Muhith said that he plans to borrow Tk 390 billion from the banks and Tk 196.1 billion from government-managed saving schemes.

>>The budget outlines a financial plan for Tk 3.41 trillion.

>> It has set a target to raise Tk 2.42 trillion in revenues.

>> Deficit stands at Tk 978.53 billion, which is five percent of the Gross Domestic Product (GDP).

Last year Muhith proposed to borrow Tk 565.23 billion from internal sources, which was later revised to Tk 621.75 billion.