State of the Bangladesh Economy in FY2023-24 (First Reading)
Independent Review of
RBD
Bangladesh's Development
Public finance situation in the early months of FY2024 and outlook
☐ Timely availability of data has been a major impediment, as MoF data is unavailable
□ NBR tax collection increased by 14.4% during Jul-Oct FY24 (14.2% in Jul-Oct FY23)
➤Improved performances in the areas of indirect taxes at the local level and direct tax
> Underwhelming performance of indirect taxes at the import level due to regulation-
induced import compression despite a considerable depreciation of BDT
ADP Implementation rate was 17.2% in Jul-Nov FY24
➤Sluggish utilisation of ADP that is financed by domestic resources – perhaps due to the
government's cost-cutting efforts
➤Improved project aid utilisation - praiseworthy given the ongoing foreign currency crisis
➤ Performance of education and health agencies continued to be lacklustre
Budget deficit financing was overwhelmingly dependent on non-bank borrowing in
Jul-Oct FY24 despite the net sale of NSCs continued to be negative while net foreign
financing declined
CPD (2023): State of the Bangladesh Economy in FY2023-24 (First Reading)
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