KAMAL-BUDGET-PRESS CONFERENCE-TWO LAST
Kamal also urged all to play their positive roles in moving forward the economy.
The Finance Minister said the aim of the government is to bring all eligible citizens of the country under the COVID-19 vaccination programme while the government is also inclined to complete the vaccination process as fast as possible.
He said that the government is now exploring the alternate sources for vaccines while more doses of vaccines would come to meet the growing demand.
Replying to a question, Kamal said that the government has been able to achieve its fiscal targets over the years.
He told another questioner that the government is yet to get the final data on the latest poverty rate from the Bangladesh Bureau of Statistics (BBS) and once it is available, then it would be possible to make the figures public.
Turning to the GDP growth rate of 7.2 percent for FY22, the Finance Minister said that the platform from which the country has to attain such growth is very strong and Bangladesh is now moving ahead in all major macroeconomic indicators.
About the debt to GDP ratio of the country, he said it is still below 40 percent which it is around 100 percent in China and also almost same in neighboring India.
“So, we’ll be able to bear our budget deficit,” he said adding that the foreign currency reserves in the country rose to $45.1 billion yesterday (Thursday) which was $36 billion in June last year.
“We’re now capable enough……we’ll not only take loans, now time has come to give loans to others,” added Kamal with high confidence.
Replying to another question on whether the government would be able to realize the targeted financing from the foreign sources to meet the budget deficit, Kamal said he does not see any problem in this regard.
Highlighting the good performances of the major macroeconomic indicators, he informed that the revenue collection witnessed an almost 13 percent growth, exports in May saw a growth of 13.64 percent with the July-May export earnings totaling $35.18 billion while the inward remittance flow is likely to hit a record height of $25 billion in this year.
Joining the press conference, central bank Governor Fazle Kabir ruled out the allegation that the well-off society and the business class are only getting favour from the stimulus packages.
He informed that out of the Taka 40,000 crore stimulus package for the large-scale industries, around 82 percent or Taka 32,625 crore have so far been disbursed among some 3,257 beneficiaries.
Out of the Taka 20,000 crore stimulus package for the CMSMEs, he informed that so far around 73 percent or Taka 14,741 crore have been disbursed.
Besides, the Bangladesh Bank Governor said that out of the Taka 5,000 crore stimulus package for the agriculture sector, around 79.9 percent or Taka 3,996 crore have so far been disbursed among some 1,72,390 beneficiaries.
Planning Minister MA Mannan said that the government has been able to maintain the positive trend in placing the budget for the last 13 years and it would not be deviated from its positive growth path.
Agriculture Minister Dr Abdur Razzaque said that the allocation against the agriculture sector has not declined in the next fiscal year while the government would focus on commercialization and mechanization of agriculture.
He also informed that tax has been raised on import of food items to encourage the local entrepreneurs as the government wants to ensure food security of the country’s people of its own. Besides, there is high export potentials for local agro processed items, he added.
GED member of the Planning Commission Dr Shamsul Alam said that there is no reason to be concerned over the current tax-GDP ratio.