Published : 29 Mar 2026, 11:25 PM
Updated : 21 Aug 2026, 03:32 PM
Bangladesh has begun a sweeping correction of its economic data after years of “exaggerated” GDP figures, Prime Minister’s Finance and Planning Advisor Rashed Al Mahmud Titumir has said
He said the past systems were marked by “distortion and weak fiscal credibility”.
Speaking after a meeting of the National Board of Revenue (NBR) Revenue Collection Task Force on Sunday, Titumir said previous governments had inflated GDP growth rates and overall economic size to serve “political aims”, a practice now under review.
“Through the White Paper Committee, you have learned how data has been manipulated across sectors,” he said.
“When we determine the real size of GDP, its proportional indicators -- including taxation -- will also become realistic.”
He painted a stark picture of the fiscal legacy.
“Not only was there looting, but records were also disordered,” he said, alleging that reported revenue figures in recent years bore little relation to actual collections.
“It is astonishing how figures were arranged to appear presentable,” he added, pointing to the government’s accounting platform AHVAS+ as evidence that bookkeeping during the previous administration was fundamentally flawed.
Titumir said the country now faces a fragile economic base, with a tax-to-GDP ratio below 7 percent -- among the lowest globally -- compounding the challenge of stabilisation.
“We have inherited a ruined economy,” he said.
“At the same time, external shocks, including tensions in West Asia and Iran, have intensified pressures -- like pouring oil on fire.”
Despite the strain, he struck a cautiously optimistic tone on revenue mobilisation.
“We expect stronger performance in the fourth quarter than any previous period this fiscal year,” he said, outlining it as the government’s immediate priority.
Looking ahead, he said authorities aim to exceed last year’s revenue performance and gradually raise the tax-to-GDP ratio to 10 percent, with a longer-term target of 15 percent by 2035.
