Khosru says new budget reflects public hopes shaped by long years of struggle

Finance Minister Amir Khosru Mahmud Chowdhury on Friday defended the government's record Tk9.38 lakh crore budget for fiscal year 2026–27, describing it as an inclusive, people-focused financial plan aimed at fulfilling citizens' aspirations after years of political upheaval and economic hardship.

Addressing a post-budget press conference at the Osmani Memorial Auditorium, Khosru said the budget was formulated through broad-based consultations and designed to integrate all sections of society into the country's economic development process.

"A budget is ultimately a reflection of the people's will," he said, adding that the government had sought to translate public expectations into concrete policies following the parliamentary election held on 12 February.

He noted that the budget was prepared under challenging circumstances, citing a fragile economy, weakened institutions and fiscal pressures inherited from previous governments, alongside global economic uncertainty and geopolitical tensions.

"We have tried to ensure that no profession, community, religion or social group is left outside the scope of this budget," he said.

Presented in Parliament on Thursday, the FY27 budget proposes a record expenditure of Tk9.38 lakh crore and includes a Tk3 lakh crore Annual Development Programme (ADP), making it the largest budget in Bangladesh's history.

The budget is built around the theme, "Economic Democratization and Deregulation: Bangladesh's Journey Towards a Trillion-Dollar Economy," reflecting the government's intention to expand economic participation and reduce regulatory obstacles to investment.

Khosru said a key objective of the budget is to shift the economy away from a patronage-driven model and towards a more inclusive framework that creates opportunities for people who have long remained outside the formal economic system.

Despite resource constraints, he said, the government had sought to provide adequate allocations, policy support and implementation strategies for a broad range of social and economic groups.

The budget places strong emphasis on human capital development, prioritising education, healthcare, job creation, entrepreneurship and social safety-net programmes.

The finance minister acknowledged the significant challenges facing the economy, including persistent inflation, vulnerabilities in the energy sector and an increasingly uncertain global environment shaped by conflicts, supply-chain disruptions and rising protectionist measures.

He argued that the traditional rules-based global economic order is under pressure, creating additional difficulties for developing countries such as Bangladesh.

To enhance the effectiveness of public spending, Khosru said future government projects would be assessed based on four criteria: value for money, return on investment, employment generation and environmental sustainability.

"We want every taka spent by the government to produce measurable economic and social benefits," he said.

The government has set targets of 6.5 percent GDP growth and 7.5 percent inflation for FY27 while pursuing structural reforms aimed at boosting private investment, improving the business climate and creating more jobs.

Khosru described the budget as a departure from previous fiscal plans, saying it combines economic reform with a stronger commitment to accountability, inclusiveness and democratic governance.

Concluding his remarks, he stressed that accountability to the public remains a fundamental duty of an elected government and welcomed scrutiny from Parliament, the media and citizens over the implementation of the budget.