The Bangladesh Economic Association (BEA) on Monday proposed a budget of Tk1,195,486 crore for FY25, which is 1.57 times higher than that proposed in the current FY24, relying on recovery of black and laundered money.
Its General secretary Prof Md Ainul Islam said: "The estimated amount of black money generated in Bangladesh in the last 50 years from FY1972-73 to FY23 will be Tk13,253,500 crore. In the budget of the upcoming FY25, we recommend recovery of only 0.98% of the total accumulated black money, from which the recovery will be Tk10,000 crore."
"The total accumulated money laundering in Bangladesh in the last 50 years from the fiscal year 1972-73 to the fiscal year 2022-23 is estimated to be Tk1,192,815 crore. In the budget for the upcoming FY25, we recommend recovery of 0.49% of the total money laundered, which will amount to Tk5,000 crore."
President of BEA Qazi Kholikuzzaman Ahmad said: "The government's policy on corruption is zero-tolerance, but corruption in the country is widespread and deeply rooted. If corruption is not removed, it will be difficult for the country to move forward in the desired direction."
"I want to point out some problems that have been going on for a longtime – like the crisis of good governance in the banking sector, the high level of defaulted loans and the turbulent condition of many banks including public and private banks," he added.
He said that according to the data of the Bureau of Statistics, the income inequality in the country has increased markedly. The Gini coefficient – which measures inequality – increased from 0.45 in 2010 to 0.50 in 2022 which was "very worrying".
The finance minister is scheduled to present a budget of Tk800,000 crore on 6 June.