The government expects the deficit in the national budget for FY2022-23 to be Tk 2,45,064 crore, which would be 5.5 per cent of the gross domestic product (GDP).
Finance Minister AHM Mustafa Kamal made the forecast while proposing a Tk 6,78,064 crore budget for the next fiscal year in parliament, which is Tk 74,383 crore more than the last budget.
“The overall budget deficit for the proposed budget will be Tk 2,45,064 crore which is 5.5 per cent of GDP. It is to be noted that in the last budget, the deficit was 6.2 per cent of GDP. The deficit will be financed from domestic and external sources,” he said in his speech.
The budget deficit for the current FY2021-22 was estimated at Tk 2,14,682 crore. The deficit in the revised budget was Tk 2,04,500 crore, which is 5.1 per cent of GDP, he said.
This indicates that the budget deficit in FY23 will increase by Tk 30,382 crore from the current fiscal.
To cover the deficit in FY23, the government will collect Tk 1,46,335 crore from internal sources and Tk 95,458 crore and Tk 3,271 crore from foreign loans and grants, the finance minister said in the budget speech.
According to the proposed budget, under internal sources, the government will collect from banks Tk 1,06,334 crore, up 39.08 per cent from this fiscal year's estimate of Tk 76,452 crore. Also, Tk 35,000 crore will come from the sale of savings certificates and Tk 5,001 crore from the sale of stamps, revenue stamps, and others.
