Bangladesh passes 68 bln USD budget for next fiscal year

Dhaka, June 30 (UNI) The Bangladesh parliament on Sunday passed a record 7.97-trillion-taka (68 billion U.S. dollars) national budget for the 2024-25 fiscal year (July 2024-June 2025).

Finance Minister Abul Hassan Mahmood Ali placed before the parliament the annual budget of Prime Minister Sheikh Hasina’s government.

Unanimously by voice vote, the parliament passed the budget on the last working day of the current 2023-24 financial year with some adjustments.

The inflation rate which was announced at 6.5 percent for 2024-25 fiscal year during the budget proposal on June 6 has been revised to 6 percent.

Bangladesh is now targeting an average inflation rate of 6 percent in the next fiscal year, although it averaged more than 9 percent in the past two years. However, the government projected an economic growth of 6.75 percent in the annual budget.

On the expenditure side, the size of the Annual Development Program (ADP) for the next fiscal year will be 2.65 trillion taka with transport, power, infrastructure, rural development and education sectors getting the biggest chunk of money. (1 U.S. dollar equals to about 118 taka)

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