Finance Minister Amir Khosru Mahmud Chowdhury on Wednesday expressed optimism that the government would achieve its revenue collection target while the country's economic situation is expected to improve gradually in the coming quarters.
“We expect the situation to improve in the coming days. I hope we will be able to achieve the target. Everything will gradually move upward, although it will take some time to become visible,” he said.
The minister said this while speaking to reporters after a meeting with senior National Board of Revenue (NBR) officials at the NBR Headquarters in Agargaon, Dhaka.
Khosru said the first quarter had just ended and the economic situation was expected to improve further as the country is moving through the second quarter and then the third and fourth quarters.
Regarding government expenditure and project implementation, Amir Khosru said all decisions were being taken after careful calculations with no spending beyond the government's financial capacity.
“We are giving importance to every project to ensure that public money is not wasted in any way and is spent properly,” he said.
The finance minister stressed that every penny of taxpayers' money must generate added value and deliver returns on investment, including employment opportunities.
The government was making expenditures after considering these factors and maintaining a balance between revenue and spending, he said, expressing confidence that it was moving in the right direction.
On the discussions with International Monetary Fund (IMF), the finance minister said negotiations and related work were ongoing, with a working group engaged in discussions on several issues. The progress would be made by January, he hoped.
Regarding the proposed IMF loan, the finance minister said securing the loan itself was not the main issue, but engagement with a broader economic programme involving several development partners in important.
“It is a comprehensive program,” he said, adding that the government's engagements under it involve the World Bank, Asian Development Bank (ADB), Islamic Development Bank and other multilateral and bilateral development partners.
He also mentioned financing through various bonds as part of the government's broader financing arrangements.
