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Govt to Trim Own Fund by Tk 7,500 Crore in ADP Revision

Economic Tag: Govt.

The government plans to reduce its own fund allocation in the annual development program (ADP) for the current fiscal year, marking a rare move. The revision may shrink the government’s fund by 4.43%, or Tk 7,500 crore, from Tk 1,69,000 crore to Tk 1,61,500 crore. Typically, the government trims the ADP annually but leaves its own funds untouched. However, this year, both domestic and foreign fund allocations will likely be reduced by 6.84% and 11.17%, respectively. Experts view this adjustment positively, suggesting a focus on trimming domestic financing to ease pressure on foreign reserves and curb inflation. Amidst inflation rates exceeding 9% and declining foreign currency reserves, such measures aim to stabilize the economy.

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