B Mirror Report: Finance Minister Amir Khasru Mahmud Chowdhury has said Bangladesh will need about two years to transition from its current fragile economic condition to a resilient state, with the third year expected to bring improvement and the fourth and fifth years potentially becoming periods of prosperity.

Speaking at a discussion titled “The Fiscal Compass 2026: Beyond the Numbers, Shaping Bangladesh’s Future, Proposed National Budget 2026-2027” at the University of Asia Pacific (UAP) auditorium on Monday, the minister said preparing the national budget had been extremely challenging.

“We had only one and a half months to prepare the budget, while public expectations were very high,” he said, adding that maintaining economic balance is never easy, particularly at a time when the country is facing economic pressures and people are expecting meaningful changes.

The event was jointly organised by the Centre for Governance Studies (CGS) and the University of Asia Pacific (UAP).

The finance minister said one of the central ideas behind the proposed budget is the democratisation of the economy, where citizens are not merely passive observers but active participants and contributors.

“We have tried to present a new economic vision based on broader participation, inclusion and the creation of opportunities,” he said.

Chowdhury highlighted the importance of the creative economy, noting that many talented individuals and communities across Bangladesh have not yet received adequate recognition and support. He cited the traditional Shital Pati artisans of Barishal as an example of an industry with untapped potential.

The government aims to support such communities through skills development, improved market access and proper commercialisation of their products, he said.

The minister also stressed the need to promote local products in national and international markets, suggesting that platforms such as eBay and Amazon could help showcase Bangladeshi handicrafts globally. He added that the country’s musicians, Baul artists, cultural workers and heritage-based industries also possess significant economic potential.

Bangladesh’s numerous historical sites and cultural assets can be transformed into economic opportunities, he said, adding that the proposed budget seeks to support the younger generation and create opportunities for their growth and development.

The minister further said the government intends to reduce unnecessary regulatory barriers, ensure greater freedom for citizens and make economic participation easier.

“People deserve real freedom, not only in the political sense but also in their everyday economic and social lives. The task is difficult, but we are committed to implementing it,” he said.

The event was attended by leading economists, academics, business leaders and representatives from the banking and corporate sectors, including UAP School of Business Dean Prof Dr M A Baki Khalili, Bangladesh Chamber of Industries President Anwar-ul Alam Chowdhury (Parvez), Bangladesh Association of Banks Chairman Abdul Hai Sarker, economist Abu Ahmed and several other distinguished guests.