Bangladesh plans $285 mln for stimulus programs in next fiscal year

08:36, June 11, 2010      

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The Bangladeshi government has planned 20 billion taka (about 285.71 million U.S. dollars) fund in next fiscal year's budget to continue its previous stimulus programs to help deal with any impact of global financial crisis.

"I propose to allocate 20 billion taka for this purpose in the budget for fiscal 2010-11 (July 2010-June 2011)," Bangladeshi Finance Minister AMA Muhith said Thursday when presenting the proposed budget of 2010-11 fiscal in Parliament.

In the current fiscal year 2009-10 (July 2009-June 2010), Bangladesh allocated 50 billion taka (about 700 million U.S. dollars) for the stimulus package to keep the country's economy buoyant amid the severest global financial recession.

The core subsidy provided in the existing stimulus packages will continue in the next fiscal year until such time the export sector stabilizes in the context of recovery of the global economy, Muhith said.

Bangladeshi has unrolled over 1.32 trillion taka (about 18.88 billion U.S. dollars) proposed national budget for the next 2010-11 fiscal year, which is 16.9 percent of GDP.



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