The delivery of the FY26 national budget appears to be shaped by persistent weaknesses in economic governance, including a lack of cooperation and inclusivity, poor coordination and harmonisation, and limited transparency and accountability, said Dr Debapriya Bhattacharya, convenor of the Citizen's Platform for SDGs and distinguished fellow at the Centre for Policy Dialogue (CPD), on Monday.
He warned that the situation could deteriorate further due to several unfolding national developments, such as the curtailment of consensus-building; the announcement of the election timeline; the ongoing judicial proceedings concerning the ousted regime; and challenges related to maintaining law and order, public discipline, and security.
Dr Bhattacharya noted that the interim government, which came to power through a popular movement against discrimination, has yet to take sufficient steps to eliminate the entrenched inequities within the economic system.
He expressed concern that the upcoming budget is largely grounded in the fiscal framework of the previous administration, with no significant reforms introduced by the current regime.
"We are not seeing the kind of structural transformation or reduction in anti-equity bias that would signal a meaningful shift in economic management," he remarked.
He made these observations at a multi-stakeholder forum titled "Bangladesh Economy 2025-26: Policy Reforms and National Budget", which was organised by the Citizen's Platform for SDGs, with CPD acting as the secretariat, at a hotel in the capital.
Dr Bhattacharya also highlighted the lack of focus on economic reforms compared to other types of reforms.
"If there is no stability in the economy, no other reform will be sustainable," he asserted.
Special Assistant to the Chief Adviser in the Finance Division Anisuzzaman Chowdhury said Bangladesh is "at the whirlpool of history" and stressed the need to maintain confidence in the country's development capabilities.
He called for abandoning the outdated perception of Bangladesh as a "basket case" and urged efforts to establish a stable and equitable international economic framework.
BNP Standing Committee member Amir Khasru Mahmud Chowdhury alleged that the FY26 budget is being drafted on the basis of a questionable gross domestic product (GDP) figure.
"What we see is a continuation of the budget practices of the deposed fascist government. There is nothing fundamentally different in this budget," he claimed.
"We must question the government's approach to formulating the budget in light of the ongoing local and global developments."
The former commerce minister added that the interim government must focus on facilitating a democratic transition.
"We see no clarity regarding the government's tenure, the election timeline, or the post-election scenario," he said.
He proposed a new economic model for Bangladesh centred on reduced state control and private sector freedom. "The future economic model of the country should be: we are open for business."
Jamaat-e-Islami central committee member Saiful Alam Khan emphasised the need for increased foreign investment to boost employment and called for political consensus to ensure national stability under all circumstances.
Former lead economist at the World Bank's Dhaka office Dr Zahid Hussain noted that the government is working on recovering stolen assets. "Less talk and more action on this front could increase the chances of recovery," he said.
Dr Selim Raihan, executive director of South Asian Network on Economic Modeling (SANEM), expressed optimism that the upcoming budget would differ significantly from previous ones.
Dr AK Enamul Haque, director general of the Bangladesh Institute of Development Studies (BIDS), stressed the need to improve the quality of budgetary expenditures.
Dr M Tamim, vice-chancellor of Independent University Bangladesh (IUB), criticised the interim government for failing to decentralise the authority of the Power Development Board (PDB), as recommended in the government's own white paper.
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