New budget ambitious, says GM Quader

Jatiya Party Chairman GM Quader on Thursday said the budget for FY-2022-2023 is ambitious in the context of instability in the world market caused by the Covid-19 pandemic and the Russia-Ukraine war, reports UNB.
"Instability has been prevailing in the world market due to the Corona pandemic and the Russia-Ukraine war. That's why the prices of various commodities and fuel oil are increasing. In such a reality, the huge budget has to be called an ambitious one," he said.
Talking to reporters at the Jatiya Sangsad Bhaban, the Jatiya Party chief also said a deficit of Tk 2.5 lakh crore has been shown in the budget which is above 5 per cent of the GDP.
Stating that 36 per cent of the budget revenue is dependent on domestic loans, he said it will hamper local investment by the businesses. "As a result, the path to create new employment may be shrunk.
Quader, also the deputy opposition leader in parliament, feared that the increase in the amount of foreign debt may lead to a catastrophe like Sri Lanka's as the government has targeted 14.2 per cent foreign loans to implement the budget.
Mentioning that the Bangladesh Bank has devalued taka against the US dollar, he said the lives of middle and lower-class people of the country may become miserable due to inflation.