State of the Bangladesh Economy in FY2023-24 (First Reading)
Independent Review of
RBD
Bangladesh's Development
Public finance situation in the early months of FY2024 and outlook
Revenue collection target for FY23 is unlikely to be met
□ IMF has already slashed the 'indicative target' for tax collection for FY24 by more than Tk.
55,000 crore
Public expenditure will need to be restrained to keep the budget deficit in check
☐ Non-bank borrowing is likely to be well below target as NSD sales may continue to be sub-
par
Bank borrowing will be under pressure to service the budget deficit
In view of the liquidity pressure with the commercial banks and the government's
commitment not to opt for borrowing from the central bank, the fiscal space available for
the government is somewhat limited
☐ The government may need to continue a restrained fiscal approach to maintain discipline
in the macroeconomic management
CPD (2023): State of the Bangladesh Economy in FY2023-24 (First Reading)
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