Thursday , 16 August 2018

A budget of stalemate: CPD

Abrar Hussain: Dr. Debapriya Bhattacharya, Member of CPD Board of Trustees, on behalf of CPD gave an opinion on the proposed budget for the Fiscal Year 2018-19 yesterday at a press conference. According to Debapriya, many of the current fundamental policies and economic trends present in previous budgets have been represented in the new budget.
“In one word, this is a budget of stalemate,” said Dr. Debapriya.
He further added, “this a budget of stalemate because it is a continuation of all the trends we have seen in economic management, macroeconomic evaluation or in foreign trade relations. As in, we have not seen any sensitivity regarding the new pressure on the economy and the situation that has been ongoing.”
The CPD has also expressed concern regarding the pressure this new budget will have on the economy.
“We have already seen a deficit of 11 billion dollars. This deficit has been gradually increasing – oil prices are increasing throughout the world, thus cost of oil, food, crops and fertilizer has increased,” said Bhattacharya, adding that if our export and remittances are not consistent, there will be adverse effects on the economy like increase in interest rates and prices as well as a devaluation the value of the taka. “We have not seen any kind of sensitivity or response regarding this.”

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