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Ministry of Finance

 

The National Budget of FY 2015-16 and the supplementary budget for FY 2014-15 have been placed before the parliament on June 4, 2015. A number of publications have also been placed before the Parliament along with the Annual Financial Statement (Budget). Notable, amongst those are:

• The Budget Speech (Bangla/English )
• Budget In Brief (Bangla/English)
• Annual Financial statement (Bangla/English)
• Gender Budget Report (Bangla/English)
• Sishuder Niye Budget Bhabna (Bangla)
• Medium Term Macroeconomic Policy Statement (Bangla/English)
• Demands for Grants and Appropriation (Non-development and Development) (Bangla/English)
• Advancement Towards Digital Bangladesh (Bangla)
Bangladesh Economic review (Bangla/English)

Priority Areas:
The Government has fixed a number of priorities in this year’s budget to materialize the national goal of graduating Bangladesh into a middle income country by 2021.
• Overall Human Resource Development with special emphasis on Health and Education
• Infrastructure development, especially – power, energy, road, railway and port
• Agriculture and Rural Development
• Increased utilization of IT in service delivery and materialization of Digital Bangladesh
• Resilience against Climate Change
• Increase remittance, diversification of export and explore economic opportunities abroad

Ongoing Reform Activities:
• PEFA assessment: Finance Division officials are working in tandem with the international consultants of PEFA Secretariat in order to assess the condition of country public expenditure, procurement and financial accountability system under the 2015 PEFA guidelines.
• PFM reform: On the basis of the shortcomings identified in the PEFA assessment, the Finance Division will update its PFM Strategy and subsequently new reform initiatives will be undertaken
• New classification: The Finance Division is working on developing a new classification framework to make it consistent with international best practices. This new classification framework, once being functional, will make public expenditure management more disciplined and transparent.
• iBAS++:Initiatives are underway to replace the existing iBAS (integrated Budget and Accounts System) with iBAS++, an upgraded version of theprevious system, that would reinvigorate the accountability and transparency of the PFM system as a whole.

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Ministry of Finance

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