President Signs Proposed Budget Finance Bill

President Md. Shahabuddin has signed the Finance Bill of the proposed national budget for the fiscal year 2026-27. He put his signature on the bill at his office in the Jatiya Sangsad (National Parliament) on Thursday (June 11) afternoon.

Earlier, Finance Minister Amir Khosru Mahmud Chowdhury presented the budget for the fiscal year 2026-27 in the Jatiya Sangsad. Titled ‘Journey towards a Democratic, Humane, and Inclusive Economy,’ the proposed budget’s size has been set at BDT 9 lakh 38 thousand crore.

Read More:  World Cup prediction markets hit $2B before kickoff as Spain and France go head to head

The budget targets a revenue income of BDT 6 lakh 95 thousand crore, resulting in a deficit of BDT 2 lakh 43 thousand crore between income and expenditure. To cover this deficit, the government plans to raise funds from both domestic and foreign sources.

According to the proposed budget, BDT 1 lakh 16 thousand crore will be collected from foreign loans and grants, and BDT 1 lakh 27 thousand crore from domestic sources. Within domestic sources, BDT 1 lakh 12 thousand crore is targeted from the banking system, and BDT 15 thousand crore from savings certificates and other instruments.

Read More:  5 More Children Die from Measles and Measles-like Symptoms

The country’s Gross Domestic Product (GDP) size has been estimated at BDT 68 lakh 30 thousand 24 crore in the budget. Additionally, the government aims to bring down inflation to 7.5 percent and boost economic growth to 6.5 percent in the upcoming fiscal year.

In his budget speech, the Finance Minister stated that expatriate income reached $3.75 billion in one month in 2026, marking the highest monthly remittance in the country’s history. To maintain this trend, the government has announced that the 2.5 percent cash incentive for sending remittances through legal channels will be retained.

Read More:  Trump Cancels Iran Attack Plan Hours After Threatening Strike Overnight

The government hopes that a continued inflow of expatriate income will strengthen foreign exchange reserves and have a positive impact on the country’s economy.

Facebook Comments Box
spot_img

Explore more

spot_img

Does Hormuz Peace Plan Signal a Risk-On Moment for Bitcoin?

Bank of Japan Rate Hike and Piling Yen Shorts Threaten BTC

Congress moves to rebuild crypto crime task force after DOJ dismantled...

Congress wants a task force for cryptocurrency theft months after the Justice Department disbanded NCET.The proposal, introduced by Reps. Lance Gooden and Josh Gottheimer,...

Last Chance to Buy ETHUnder $2K? ETH Up After Iran Deal

This Is It? Bottom Was 2 Weeks Away?

Experts Claim July 4 CLARITY Act Signing Is “Realistically Impossible”, What...

The Howey test is still the operative legal standard for digital asset classification Clarity ACT in the United States. The CLARITY Act passed the...