Dhaka/

The Center for Policy Dialogue (CPD) has termed the financial structure of the proposed budget for the next financial year as ‘illusory’. The agency said the implementation experience of the current financial year has not been taken into account in determining the budget’s revenue and expenditure structure. Due to this structural weakness, the implementation of the budget will face challenges.

The CPD gave this opinion in the analysis of the proposed budget for the fiscal year 2023-24 at Hotel Lakeshore in Gulshan of the capital today at 11 o’clock on Friday. The executive director of CPD presented the budget analysis at the press conference. Fahmida Khatun. CPD researchers including Honorary Fellow Professor Mostafizur Rahman, Research Director Khandaker Golam Moazzem were present at this time.

The CPD said the overall economy is gradually weakening. Challenges of transition from least developed countries – the kind of steps required to take these into account were not considered in the budget.

The agency also said that the reality has no match with the projected projection of macroeconomics. No reflection on economic reforms. Various variables are aspirational.

Regarding inflation, it has been said that it will come down to 6 percent compared to the current financial year, where inflation was high throughout the current fiscal year. In fact, there is no measure in the budget to control inflation. Inflation may increase further in future.

The proposed budget is vague about IMF conditionality. IMF conditions have been met in various proposals. Due to this, the government is desperate to collect revenue. CPD appreciated the move to raise the tax-free life limit to three and a half lakh taka as a good step in the budget.

CPD believes that the implementation of the budget will not be possible due to insufficient measures to identify and address ongoing overall economic challenges.