In a comprehensive endorsement of the nation’s financial trajectory, the Minister for Information and Broadcasting, Dr Hasan Mahmud, has characterised the proposed fiscal budget for the 2022-23 financial year as a profoundly “pro-poor” blueprint. Following the formal presentation of the Taka 6,78,064 crore fiscal plan by Finance Minister AHM Mustafa Kamal in the Jatiya Sangsad, Dr Mahmud emphasised that the strategy is specifically engineered to fortify domestic production and shield the vulnerable from global economic volatility.
Providing an immediate reaction to the budgetary provisions, Dr Mahmud noted that the global economic landscape is currently fraught with uncertainty. He pointed to the soaring inflation and rising costs of living currently gripping the United States and Europe—consequences of ongoing international conflicts and supply chain disruptions. In this precarious climate, where the duration of the global recession remains unpredictable, he argued that the government’s decision to pivot towards internal production is both visionary and necessary. By incentivising local industry and agriculture, the budget aims to create a self-sustaining economic buffer against external shocks.
A cornerstone of this fiscal policy is the significant expansion of the social safety net. Dr Mahmud highlighted that the increased budgetary allocation for welfare programmes is designed to provide essential financial cushioning for lower-income households. This “egalitarian” approach, he asserted, ensures that the fruits of national development are distributed to those at the base of the economic pyramid, reinforcing the government’s commitment to inclusive growth.
The Minister, who also serves as the Joint General Secretary of the Awami League, was categorical in his dismissal of those who have voiced criticism of the fiscal plan. He observed that the Bangladesh Nationalist Party (BNP), alongside certain intellectuals and organisations, habitually adopts a cynical stance regardless of the budget’s merits.
| Fiscal Element | Details of the 2022-23 Proposed Budget |
| Total Budget Size | Taka 6,78,064 Crore |
| Core Philosophy | Pro-Poor and Production-Oriented |
| Primary Economic Focus | Enhancing Internal Production & Self-Reliance |
| Social Focus | Expansion of the Social Safety Net Coverage |
| Global Context | Mitigating War-Induced Inflation and Recession |
| Political Continuity | Sustaining 13.5 Years of Consistent Growth |
Dr Mahmud reminded detractors that despite thirteen and a half years of persistent negativity from opposition quarters, Bangladesh has remained on a steadfast upward trajectory. He noted that the country’s resilience was most evident during the COVID-19 pandemic, where it continued to move forward while many global economies faced stagnation. Concluding his remarks, the Minister expressed his unwavering confidence that by consolidating the economy through this strategic budget, Bangladesh is poised to march towards a more prosperous and stable future.