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Finance and Planning Minister Amir Khosru Mahmud Chowdhury said Bangladesh will need two years to recover from its fragile economic situation. He stated that the government aims to reduce reliance on borrowing and is exploring alternative financial strategies. The minister made these remarks on Sunday afternoon while speaking to journalists.
He explained that the government is reviewing various aspects to make the national budget more accurate and emphasized the importance of bringing more citizens under the tax net, even with small contributions. Chowdhury noted that the current administration inherited a heavy debt burden from the previous government, which he described as fascist, and that the 2026–27 fiscal budget is not yet perfect. However, he assured that efforts are ongoing to stabilize the economy within two years.
The minister also mentioned that many of the 1,300 projects initiated by the previous government were canceled due to inefficiency or lack of utility. He added that borrowing from local banks at 11–13 percent interest is unsustainable for the private sector and burdensome for the government, which plans to move away from such borrowing.
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