Inflation target set at 5.5% in the proposed budget

Finance Minister AHM Mustafa Kamal today presented a national budget of Tk 678,064 crore for the 2022-23 fiscal year. In the proposed budget, the inflation target has been set at 5.5 percent.

The Finance Minister presented the proposed budget for the 2022-23 fiscal year in the Jatiya Sangsad at 3 pm on Thursday titled “Overcoming the Impact of COVID and Returning to the Continuity of Development”. This is the fourth budget of the third consecutive term of the government led by Prime Minister Sheikh Hasina.

In the presence of Prime Minister Sheikh Hasina, chaired by Speaker Dr. Shirin Sharmin Chaudhury, the Finance Minister started his speech by presenting the proposed budget.

The Finance Minister said this year’s budget will focus on poverty-friendly and inclusive growth to ensure equality and fairness in society. The emphasis will be on controlling inflation.

In the current 2021-22 fiscal year, despite various challenges, it has been possible to keep inflation limited to 5.6 percent, he said.

This will be the country’s 51st budget and the 23rd of the Awami League government in five terms. This would also be the 4th national budget in a row to be placed by Finance Minister AHM Mustafa Kamal.