August 13, 2022

Next budget will focus on economic recovery, says finance minister

Finance Minister AHM Mustafa Kamal said the next national budget for the financial year 2022-23 will focus on economic recovery after uncertainties due to the impact of Covid-19 and the Russian-Ukrainian war.

“We will try to energize the economy,” he told reporters during a briefing on the outcome of the Cabinet Committee on Government Procurement (CCGP) meeting on Wednesday, BSS reports.

The national budget for the 2022-23 financial year is expected to be tabled in parliament on June 9.

He said that when the economy was trying to recover from the shock caused by the Covid-19 pandemic, the Russian-Ukrainian war began, which created huge vulnerabilities and uncertainties globally.

“Every country in the world is facing the challenges of vulnerabilities and they are under pressure,” he said, adding that these uncertainties and vulnerabilities will also create opportunities.

However, he refused to disclose the main orientations of the national budget. “Wait… You’ll see when the budget is tabled in parliament.”

He hinted that strengthening the social safety net program will receive special attention in the upcoming budget.