Foreign

Bangladesh passes 67-bln-USD budget for next fiscal year

Published

on


The Bangladesh parliament on Tuesday passed a record 5.68-trillion-Taka (nearly 67 billion United States dollars) national budget for the 2020-21 fiscal year (July 2020-June 2021).


Finance Minister AHM Mustafa Kamal 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 2019-20 financial year with some adjustments.

The GDP growth rate which was announced at 8.2 percent for 2020-21 fiscal year during budget proposal on June 11, has been revised to 5.2 percent due to the economic impacts of COVID-19.

In his speech, Kamal said sufficient allocation has been made in the proposed budget to satisfy the needs of all ministries and divisions to address the impact of the COVID-19 outbreak.

The total outlay of the budget for the next fiscal year 2020-21 is 5,680 billion taka, up by 8.6 percent over that of the original budget of the outgoing fiscal year 2019-20.

On the expenditure side, health, agriculture and employment creation have been given priority while allocating resources for the annual development program (ADP) in the next fiscal year.

The total allocation for operating and other expenditures is estimated at 3,628.55 billion taka, while the allocation for the ADP is 2,051.45 billion taka.

The overall budget deficit will be 1,900 billion taka, which takes 6 percent of GDP. Out of the total deficit, Kamal said 800.17 billion taka will be financed from external sources, while 1,099.83 billion taka from domestic sources. (1 United States dollar equals 85 taka)

(XINHUA)

https://nnn.ng/bangladesh-passes-67-bln-usd-budget-for-next-fiscal-year/

Independence: KEDCO urges Nigerians to support power sector reform Independence: Sen. Adeola urges Nigerians to redress wrongs at 60 Aba residents decry killing of Malaysian returnee in Aba Bauchi, Jigawa floods: FG commiserates with victims, begins flood assessment NCF calls for concerted effort to preserve environment PDP condemns repeated attacks on its candidate for Ondo race Officials advocate building of toilets to end open defecation by 2025 Nigeria @ 60: Atiku calls for youth-centred development plan Harry Potter flies in London, playing Quidditch over Leicester Square Governors donate N100m to Borno Government Country singer/songwriter Mac Davis, who wrote ‘In the Ghetto,’ dead at 78 Independence:NEPZA boss promises to use FTZs, SEZs rejuvenate nation’s economy Curtailing access to forex proceeds will limit exporter’s contributions to economy – FACAN Customs boss charges NDA cadets to place national interest above all other considerations  Felix Duke calls out Pretty Okafor over Creative Industry Group (CIG) Trademark fraud Akwa Ibom to implement flood-control project across 18 communities House seeks immediate demarcation of boundary among warring communities in Nasarawa, Benue Independence Day: Gbajabimila, Wase, Elumelu congratulate Nigerians 2021 budget: Reps approve N13.08 trn expenditures, $40 oil price benchmark Expert urges schools to embrace ICT as  new method of teaching Independence: Plateau speaker urges Nigerians to defend nation’s unity [email protected]: Gov. Bello says insecurity threat to growth, development Nigeria @ 60: PDP urges Buhari to reposition government 2023: Umahi denies alleged rift with NASS members from Ebonyi Nigeria @ 60: 120 eminent Nigerian elders, leaders for National Dialogue — Utomi Group says community policing key to curbing insecurity Oyetola salutes Nigeria at 60, sues for peace, unity Poultry association tasks NLC on permanent employment of workers by employers Nigeria grants approval for Emirates Airlines to operate Group launches N5m interest-free loan for members [email protected]: We must build a nation of one destiny – Mark FG distribute palliatives to 47,020 vulnerable households in Enugu N/ East: DPR tasks owners of filling stations, gas plants on safety Nigeria @ 60: Progressive Governors reaffirm commitment to democracy, development Army Court Marshal dismisses soldier for defiling minor Kwara schools to resume Oct. 5, tertiary institutions Oct. 12 Tinubu urges common purpose, strong bond 2 cyclists die in BRT accident in Lagos Nigeria @ 60: Gov. Bello urges Nigerians to promote national unity United States ship: USS HWW visits Nigeria, conducts exercise with NN COVID-19: Osun govt. orders full reopening of markets, worship centres Women empowerment, Akeredolu’s utmost priority — Wife Senate President congratulates PDP on victory in Edo guber election KEDCO reverts to old electricity tariff Commission urges states to implement Fiscal Responsibility Act, 2007 Nigeria @ 60: Akeredolu felicitates with Nigerians, calls for unity Anniversary: APC urges Nigerians to reflect on nation’s history, show more love Nigeria @60: Law students Association tasks youths on leadership [email protected]: Let unity of Nigeria remain in our DNA – Lagos Speaker 8 companies so far demonstrate e-voting machines to INEC — Okoye