Finance Minister AMA Muhith unveiled a Tk 4 trillion budget for FY2018 in parliament on Thursday, with a deficit of Tk 1.12 trillion or 5 percent of the GDP. In his budget speech, Muhith said he plans to borrow Tk 301.5 billion from government-managed savings schemes and Tk 282.03 billion from the banks. In the budget for the outgoing fiscal year, the government aimed to borrow Tk 615.48 billion from internal sources. The government had aimed to borrow Tk 196.1 billion from savings certificates in fiscal 2016-17, but on Thursday, Muhith said the government revised it upward to Tk 450 billion. The bank borrowing target of Tk 389.38 billion for the FY2017 budget was revised down to Tk 239.03 billion on Thursday.

Source: bd News24 June 01, 2017 09:00 UTC