STAR BUSINESS REPORT

Welcoming the proposed budget, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) said it will help restore economic stability and boost investment and the private sector, as the government has prioritised improving the business environment and strengthening energy security.

In its reaction to the Tk 9.38 lakh crore budget, the FBCCI said the targets of 6.5 percent GDP growth and reducing inflation to 7.5 percent can be achieved if sustainable discipline is maintained in the economy.

However, it said achieving the revenue target of Tk 6.95 lakh crore, including Tk 6.04 lakh crore assigned to the National Board of Revenue (NBR), will be challenging due to current domestic and global economic conditions.

The apex trade body said reforms in the NBR are necessary to meet the revenue target while ensuring economic stability, better revenue management and a more investment-friendly environment that supports growth.

It also warned that heavy borrowing from the banking sector could reduce the flow of loans to the private sector, potentially affecting job creation.