Representational photo: Collected-
Metropolis Desk-
To stop additional domestic inflation, the government is looking for budget support credits for the current fiscal year.
The World Bank, Japan, the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and other bilateral and multilateral development banks have all received requests.
In the first half of the fiscal year, the government expects to receive loans. According to estimates, the 2023–24 fiscal year’s budget deficit will be Tk 2.62 trillion or 5.2% of the GDP.
The government is looking for more outside funding to make up the shortfall as fund mobilization for the deficit budget would be difficult.
Instead of using internal resources to reduce pressure on domestic finances, the government has adopted a policy to reduce the deficit by borrowing from external sources.
