Budget for 2034 will be of a trillion dollar: Kamal

DHAKA, Finance Minister AHM Mustafa Kamal today

said that the national budget in Bangladesh for the year 2034 will reach

around a trillion US dollar.

We've given over Taka Five lakh crore budget for FY20. By 2034, the

budget for Bangladesh will be a trillion dollar, Insha Allah. You'll have to

have confidence in it, he said.

The Finance Minister was addressing the closing ceremony of the twoday

Good Project Implementation Forum organized by the Asian Development Bank

(ADB) held at the Bangabandhu International Conference Center (BICC) in the

city.

Referring to the indicative budget amount for 2034, Kamal said, It's

gettable and it's coming up and people will get the benefit of it. It's a

dream and we all together will materialize it,

The Finance Minister said Bangladesh is now the 32nd largest economy and

by 2030, the country would be the 24th largest economy in the world.

He said the main area of concern and focus of Bangladesh is to achieve

the targets of SDGs by 2030 and to become a developed country by 2041.

We've already become a middle income country and now we're a developing

economy alongside India, Brazil, China, Russia, Malaysia and the

Philippines. he added.

The Finance Minister said growth is now all around in the cities and

villages while the government wants to see every village enjoy the same

facilities that exist in the cities and towns.

He opined that this twoday event would give the government a pathway,

some new ideas and enrich the government to move forward.

Recalling his sufferings during the dengue fever for which he could not

fully deliver the last budget, Kamal prayed to Almighty Allah so that no one

is infected with dengue virus anymore.

The Finance Minister also announced that two top officials of the

awarded projects by ADB would be sent to countries like Vietnam, India and

Singapore to gain more experience.

ADB Country Director Manmohan Parkash gave the address of welcome while

Economic Relations Division (ERD) Secretary Monowar Ahmed delivered the

closing remarks.

ERD Secretary Monowar Ahmed asked the local officials of the awarded

projects to keep this in mind that this is recognition of their good job and

performances as well as to share their good practices with their other

Bangladeshi colleagues.

Earlier, the Finance Minister distributed awards to the best performing

projects and delegates.

ADB this time awarded its good performing project teams in Bangladesh

under 10 different categories as part of efforts to promote efficient project

implementation. SASEC Road Connectivity Project became the best performing or

champions of the champion project by ADB.

Over 300 participants from project executing and implementing agencies

of Bangladesh, Bhutan, India, Indonesia, Nepal and Sri Lanka attended the

forum with the theme Delivering Better Project Outcomes and shared their

experiences, best practices and lessons learned from implementation of

various projects.

The forum is first such initiative in Bangladesh to promote SouthSouth

Cooperation.

Congratulating the winning project teams, Country Director Manmohan

Parkash said, Projects must be implemented faster, by adopting the finest

possible quality and compliance standards. Better and faster project

implementation is the key to delivering benefits to the people early, reduce

project costs and sustaining development results.

Parkash said in the ADO supplement issued couple of days ago, the ADB

has upgraded the economic outlook for Bangladesh from 8 percent in FY19 to a

record 8.1 percent, highest in AsiaPacific. This is a remarkable

achievement given that the current global outlook is challenging.

Further, he said the ADO supplement predicts Bangladesh to sustain the

highest growth in the AsiaPacific at 8 percent in 2020. Friends, I call

Bangladesh a 'Land of Opportunity'. This is because the country has made

tremendous progress in a very short period. Despite a difficult global

economic outlook, Bangladesh continues to progress at a high rate.

The ADB Country Director said under the bank's newly approved Strategy

2030, ADB will strengthen its countryfocused approach and promote innovative

technologies to deliver integrated solutions, combine expertise across a

range of sectors and themes through a mix of public and private sector

operations, and innovative high impact projects.

In addition to an overall best project award projects were also

awarded under innovation and high technology gender mainstreaming,

social development and resettlement, environmental safeguard compliance,

financial management, procurement, contract awards, disbursement, and

most improved project categories.

The best project team recognition program was initiated in 2001 and has

been a regular annual exercise by ADB to promote development effectiveness of

ADBassisted projects in Bangladesh.

Source: Bangladesh Sangbad Sangstha (BSS)