DHAKA, May 19, 2025 (BSS) – Speakers at a forum here today underscored the need for ensuring a strong investment performance, accountability mechanism, clarity in priorities and coherence in policy direction alongside generating more employments and to prudently deal with the issue of poverty in the next national budget for FY26.
 
The speakers came up with such emphasis while addressing at a multi-stakeholder forum on “Bangladesh Economy 2025-26: Policy Reforms and National Budget” held at a hotel in the capital.

Special Assistant to the Chief Adviser Dr Anisuzzaman Chowdhury and BNP Standing Committee member Amir Khasru Mahmud Chowdhury spoke as special guests while Distinguished Fellow of the Centre for Policy Dialogue (CPD) Dr Debapriya Bhattacharya made the key-note presentation.

Senior Research Fellow of CPD Towfiqul Islam Khan, Executive Director of SANEM Dr Selim Raihan, former Lead Economist of World Bank Dr Zahid Hussain, Vice Chancellor of IUB Dr M Tamim, Director General of BIDS Dr AK Enamul Haque, Professor Dr Tasneem Arefa Siddiqui, CPD Distinguished Fellow Professor Mustafizur Rahman, Executive Director of BIGD Dr Imran Matin, BIDS Research Director Dr Kazi Iqbal, Jahangirnagar University Professor Sharmind Neelormi, BUILD CEO Ferdous Ara Begum and RAPID Executive Director Dr Mohammad Abu Eusuf spoke as panelists.

Speaking on the occasion, CA’s Special Assistant Anisuzzaman Chowdhury said since the country’s independence, Bangladesh came a long way while the country is no more a bottomless basket. “From a test case, it’s now a learning ground.”

BNP Standing Committee member Amir Khasru Mahmud Chowdhury said to him the first, second and third priority is attracting more investment while no country in the world, including Bangladesh, can prosper without attracting more investment.

“The fundamental of development is attracting more investment mostly private sector investment. In order to generate more employments, there is a need to attract more private sector investments either it local or foreign investment,” he added. 

Khasru said that it was BNP which had carried out economic reforms and left footprints on private sector led growth in the country. “We’ve to democratize the economy as political democratization is not enough.”  

While presenting his keynote paper, Dr Debapriya put emphasis on restoring comfort in the economy. Otherwise, other sectors would not remain in comfort, he said.

“A move from stability to growth would necessitate a strong investment performance, whilst it appears incremental growth will be driven by consumption,” he added.

Under the current circumstances, the eminent economist suggested for rounding up the consensus building process, judicial process concerning the ousted regime and maintenance of law and order, public discipline and security. 

Former Lead Economist of the World Bank Dr Zahid Hossain said that after taking office, the interim government started to restore regulations in the banking sector, supported the distressed institutions from falling further and taken initiatives to bring back the stolen or laundered money from abroad.

He said that the government has advanced a lot in freeing the banking sector from the clutch of a business conglomerate…”We’re going towards a more or less stable condition, but I won’t say the crisis is over.”

While taking part in the open discussion, World Bank Country Director (Interim) Gayle Martin said that there is great variations in the budgetary expenditure across various sectors side by side there are cost-over run and delayed extension in the development process in Bangladesh.

Given the magnitude of World Bank’s portfolio in Bangladesh, Gayle suggested for relooking at the project implementation mechanism at the government side.

She also said that the World Bank is looking forward to scale up its engagement to see some improvements.

CPD Distinguished Fellow Dr Mustafizur Rahman said that it could have been better for the interim government if it could bring back one third of the amount which have been laundered abroad over the years.

Although it is a long process, he said the process has already been started as the Bangladesh Bank has already formed two task forces while the Ministry of Finance formed one task force to bring back the laundered money.

Dr Mustafizur also suggested for keeping budgetary allocation in conducting the necessary formalities in bringing back the stolen money.

RAPID Executive Director Prof Abu Eusuf suggested for rationalizing the tax exemptions side by side making the revenue forecasting evidence-based and devising time-bound mechanism in this regard.

BUILD CEO Ferdous Ara Begum put emphasis on enhancing the institutional capacity of the entities since those are yet to reach international standard for which the businesses are yet to get their desired services.

Director General of BIDS Dr Enamul Haque said that quality would be more important than expenditure in the next budgetary expenditure.

Citing the current trend of low GDP growth, he said that if the growth rate stands at around 3 percent, then the employment growth would be almost zero. “Then there will be neither growth and nor employment growth,” he added. 

Dr Selim Raihan of SANEM hoped that the interim government and the political parties would clear their positions over the reform initiatives.

In this regard, he said that there is a strong anti-reform position among the political and business elites and the bureaucratic elites also.

Dr M Tamim said that there is a need to take solid preparations considering the demand for power and energy in FY30.

Citing that the industrial production is being hampered due to energy crisis, he said that local and foreign investment are needed to boost local gas production through beefing up the exploration works of BAPEX and if necessary bringing foreign experts.