United Commercial Bank (UCB)

Dhaka, Thursday

29 September 2022

Business Insider Bangladesh

Market instability won’t persist for long, assures Kamal

BI Report || BusinessInsider

Published: 20:18, 10 June 2022   Update: 20:18, 10 June 2022
Market instability won’t persist for long, assures Kamal

Photo: Business Insider Bangladesh

Finance Minister AHM Mustafa Kamal has said assured the instability in the market won't persist for long by saying the government “will definitely have some efforts in this regard”.

“The government won't fail in this area. We'll be able to deal with it taking alongside all," he said.

The minister made the commitment at a post-budget press conference at the Osmani Memorial Auditorium in the capital on Friday.

The minister said that Bangladesh fared well when the whole of the world was affected due to the impacts of the Covid-19 pandemic. “No organ of Bangladesh was affected while all the macroeconomic indicators were in good shape.”

On price hikes of essential commodities, he said the government’s effort is always to have a match between demand and supply.

He said although the overall budget size has decreased in percentage to GDP compared to the outgoing fiscal year, the government did not transfer its focus from expansionary monetary policy to contractionary monetary policy.

He claimed that the price of the locally produced items is now less, but the prices of imported products depend on the fluctuation of global market prices.

He said, "We have prepared the budget keeping in mind the marginalised people of the country. They will benefit from the budget. Businessmen will also benefit from the budget. Everyone will benefit from this budget".

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