Finance Minister seeks 6 more months to control inflation
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Proposed budget was placed in parliament on Thursday
Finance Minister Abul Hassan Mahmood Ali said the citizens will have to wait for six more months to get the results of the government’s initiatives to control inflation.
"Inflation will start to come down by the end of this year,” he said.
The finance minister said this at a post-budget press conference organized by the Ministry of Finance at Osmani Memorial Auditorium in the capital on Friday.
“You must have noticed that we have reduced the size of the budget. So that the inflation does not increase,” he added.
In reply to a query, Ali said the inflation is limited to the 9% range due to the steps taken by the Awami League government.
"When Awami League came to power, inflation was around 9% in 2009 and it rose to 10% in 2010. However, the government managed to bring the inflation under control within two years. Inflation was 5-6% in the next decade," said the minister during the press conference.
Finance Minister Abul Hassan Mahmood Ali presented the proposed budget for the 2024-2025 fiscal year amounting to Tk797,000 crore (Tk7.97 trillion) in parliament on Thursday.
This was his first budget unveiling and the first budget after the reelection of the Awami League government in January.