The International Business Forum of Bangladesh (IBFB) has termed the proposed national budget for fiscal year 2026-27 a positive and pragmatic roadmap for economic recovery, investment expansion, employment generation and long-term structural reforms.
The business body made the observation at a press conference titled 'Proposed Budget 2026-27: Expectations and Outcomes' held at the National Press Club in Dhaka on Thursday.
Speaking at the event, IBFB President Lutfunnisa Saudia Khan said the budget's emphasis on investment, industrialisation, small and medium enterprise (SME) development, support for women and young entrepreneurs, expansion of the digital economy, greater use of renewable energy and an increase in the tax-free income threshold sends a positive signal for businesses and job creation.
She said successful implementation of these initiatives would help attract both domestic and foreign investment, create new employment opportunities and accelerate economic growth.
However, she underscored the need for effective measures to address challenges, including ambitious revenue targets, inflationary pressure, weaknesses in the banking sector and constraints in implementation capacity.
The IBFB reiterated its recommendations for full digitalisation of tax administration, structural reforms of the National Board of Revenue (NBR), improving the ease of doing business, expanding SME financing, attracting foreign investment, developing the capital market and ensuring policy continuity.
Former NBR chairman Dr. Muhammad Abdul Mazid, who attended the event, said unnecessary expenditures should be curtailed in the budget and institutional capacity strengthened to ensure effective implementation.
He also stressed that public aspirations should be reflected in the national budget.
Responding to a question on the revenue target for FY27, Dr. Mazid said achieving the target might be difficult given the revenue shortfalls recorded in recent fiscal years.
He, however, noted that if the banking and capital market sectors become more vibrant and stronger, revenue collection in FY27 could significantly exceed previous years' levels.
He emphasised that policy continuity and predictability are essential for maintaining an investment-friendly environment and ensuring long-term economic stability.
The IBFB said that with effective implementation, good governance and necessary reforms, the FY27 budget could strengthen the foundation for higher economic growth, increased investment and sustainable development in Bangladesh.
Former IBFB president Humayun Rashid, IBFB Life Member and Director M.S. Siddiqui and Vice President Utpal Kumar Das were present at the press conference.
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