Bangladesh unveils over 71-billion-dollar national budget
June 3rd, 2021 at 5:55 pm
Bangladesh unveils over 71-billion-dollar national budget

by Staff Correspondent in Dhaka; –

Finance Minister AHM Mustafa Kamal has unveiled more than 71-billion dollar national budget for the next financial year aiming at better saving the life and livelihoods amid the novel coronavirus pandemic.

The health sector improvement has been prioritized beside plans for employment generations in the government’s budget document placed Thursday in parliament as its sitting resumed with Speaker Shirin Sharmi Chaudhury presiding.

A handful of senior ministers and members of parliament joined the budget session maintaining the health protocols because of the virus pandemic.

The health sector got an allocation of 3.86 billion dollars, including over 1.18 billion special fund for combating the Covid-19 outbreak, according to the budget document which the finance minister titled this year “Bangladesh Towards a Resilient Future Protecting Lives And Livelihoods”.

Prime Minister Sheikh Hasina and Finance Minister AHM Mustafa Kamal walk towards the parliament chamber ahead of the unveiling the national budget for 2021-22 financial year – PID photo

“The main impetus of our economic activities is our people. So, this year’s budget will provide highest importance to the lives and livelihoods of the people,” Kamal said giving a background of the pandemic and the government’s efforts to keep the economy afloat amid the global crisis.

He said with the improvement of the socio-economic condition of the people, Bangladesh will achieve planned targets of 2030 (sustainable development goals), 2031 (upper middle income country), 2041 (high income country) and 2100 (implementation of Bangladesh Delta Plan).

The minister set a growth target of 7.2 per cent for the next fiscal year.

The government earmarked over 44.6 billion dollars to finance education and technology, social welfare, public safety, defence, transport and communication development, along with other projects.

It raised the developed budget by 12 per cent and allocated 26.59 billion dollars for the Annual Development Plan to be implemented in the next financial year beginning on July 1.

The government will borrow more than 25 billion dollars from external and domestic sources to meet the deficit, according to the budget document.

Lawmakers will debate the allocations and are expected to pass the budget on June 30.