Bangladesh Economic Association recommends Tk 12 trillion budget

The Bangladesh Economic Association has recommended a Tk 12 trillion budget for the coming fiscal year, which is nearly three times the current year’s budget.

“Our budget is reasonable and is based on the country’s economic strength,” said BEA President Prof Abul Barkat while presenting his alternative plan.

Bangladesh’s budget for fiscal 2017-18 is Tk 4 trillion, which was criticised by some as ambitious.

Finance Minister AMA Muhith has indicated that the budget he will present in June will be larger than Tk 4.6 trillion.

The BEA presented the alternative budget plan at a press conference at the National Press Club on Saturday.

Prof Barkat, who teaches economics at Dhaka University, delivered the keynote address at the event. He said it would be possible to implement the budget without resorting to any foreign loan.

“Our proposed budget makes no use of foreign loans,” he said. “And 81 percent of our budget, or Tk 9.9 trillion, will be covered by government revenue.”

The BEA says 44 percent or Tk 1 trillion of the remaining Tk 2.25 trillion will be covered by public-private joint ventures, 27 percent will come from savings certificates, 21 percent will come from the stock market and 9 percent will come through bank borrowing.