No decision on delaying budget announcement yet, says finance minister

Finance Minister AHM Mustafa Kamal has said the government is yet to decide if the next fiscal budget announcement will be delayed amid countrywide shutdown caused by coronavirus pandemic. 

“We are yet to decide whether the next fiscal budget will be delayed for two months due to general holidays amid coronavirus pandemic,” the finance minister told The Business Post recently. 

In fact, Prime Minister Sheikh Hasina also does not want to delay the announcement of budget for 2020-21 fiscal year, he pointed out. 

The finance minister said his ministry has already sought opinion from law, justice and parliamentary affairs ministry in this regard.

“It is true that the pre-budget meetings and the budget formulation process have remained suspended for almost 22 days now,” said the minister, adding that he now contemplated arranging fiscal budget meetings through video conference during the lockdown.

Regarding the issue of printing money, the finance minister said, “We will definitely print money to increase the cash flow in the market.”

As per directives of the prime minister, the Bangladesh Bank is now conducting a survey to assess how much money is needed in this dull market.

The authorities concerned will disburse the money in a manner so the inflation rate remains at moderate level, the minister added.

sk/at/teb