BRACU hosts discussion on fiscal policy

BRAC University (BRACU) recently hosted a panel discussion on fiscal policy's role in Bangladesh's economy at the university's Merul Badda campus in the capital, according to a press statement.
Public expenditure stands at just 13 per cent of the GDP, whereas it is around 20 per cent in South Asia, said Centre for Policy Dialogue Distinguished Fellow Professor Mustafizur Rahman.
The latest national budget efficiently consolidated 140 social safety net programmes into 99, yet 45 per cent of the social safety net budget has been allocated in the form of agriculture subsidy and pensions, which should be excluded, he said.
Around Tk 70 trillion or 40 per cent of loans have turned sour against deposits of Tk 190 trillion, said Global Islami Bank Chairman Mohammad Nurul Amin.
The troubled banks will either be merged or be put up for acquisitions or transfers, he said.
When the government collects funds from the economy through financial instruments such as bonds, it reduces the availability of private sector credit, said Japan-Bangladesh Chamber of Commerce and Industry Executive Director Tahera Ahsan.