B Mirror Report: Finance Minister Amir Khosru Mahmud Chowdhury on Friday reiterated the government’s ambition to transform Bangladesh into a trillion-dollar economy by 2034 and position the country as a developed and self-respecting nation on the global stage.
“With collective efforts, we can build a sustainable, prosperous, and democratic Bangladesh, achieve a trillion-dollar economy by 2034, and establish the country as a developed and dignified nation globally,” he said.
The minister made these remarks while presenting the second-quarter progress report on budget implementation for the current fiscal year (FY26) in the Jatiya Sangsad.
He emphasized that maintaining policy continuity, strengthening institutional capacity, ensuring good governance, and fostering an investment-friendly environment are vital to addressing ongoing economic challenges.
According to him, the government has taken steps to liberalize and deregulate the economy, improve the ease of doing business, and restore discipline in the financial sector. He added that initiatives to boost revenue collection, diversify exports, expand skill- and technology-based industries, and attract both domestic and foreign investment are helping to strengthen the economic foundation.
The minister also noted that efforts are underway to reinforce governance in the banking sector, reduce non-performing loans, and introduce risk-based supervision systems. These measures, he said, are expected to enhance transparency and stability, supporting sustainable long-term growth.
Expressing optimism, Chowdhury said that inspired by the spirit of independence and national aspirations, Bangladesh would overcome current challenges through coordinated public support and pragmatic government policies. He also highlighted the role of leadership and strategic programmes in accelerating development progress.
Turning to the global outlook, the minister cited International Monetary Fund projections, stating that global growth is expected to remain steady, reaching around 3.3 percent in 2025 and stabilizing near 3 percent in the medium term. Emerging Asian economies are likely to lead with approximately 5 percent growth, while advanced economies may slow to around 1.7 percent.
Global inflation, which peaked at 8.7 percent in 2022, is projected to fall to 4.2 percent in 2025 and further to 3.8 percent in 2026. Moderate inflation in key trading partners such as China and India could help ease domestic price pressures in Bangladesh, he added.
However, he cautioned that ongoing tensions in the Middle East could disrupt this outlook, potentially affecting global growth and increasing fuel and fertilizer prices, thereby posing risks to Bangladesh’s energy security and inflation management.
Highlighting domestic performance, the finance minister said revenue collection rose by 13.6 percent in the second quarter of FY2025–26, compared to 4.7 percent in the same period a year earlier. Government expenditure increased by 14.1 percent, while implementation of the Annual Development Programme reached 13.56 percent of the total allocation.
He also noted that foreign exchange reserves stood at $33.19 billion at the end of December 2025, up from $26.22 billion a year earlier. Inflation has shown signs of easing, with the 12-month average declining to 8.77 percent from 10.34 percent over the same period.
The minister expressed hope that ongoing policy measures including tight monetary policy, prudent fiscal management, and supportive initiatives would help bring inflation down to 7 percent by the end of the current fiscal year.
Looking ahead, inflation is projected to decline further in the coming years, alongside a gradual acceleration in economic growth.
Despite this progress, he acknowledged challenges such as global trade protectionism, rising competition, high interest rates, and structural barriers to private investment and revenue mobilization.
To address these issues, the government is prioritizing an investment- and export-led growth strategy, focusing on deregulation, policy stability, faster approvals, improved access to land and energy, and stronger legal protections for investors.
He added that efforts are ongoing to simplify licensing procedures and expand digital one-stop services under the Bangladesh Investment Development Authority (BIDA).
Concluding, the finance minister expressed confidence that Bangladesh’s strong economic fundamentals including a large workforce and growing industrial capacity will support sustained recovery and long-term development.
