Budget for recession and recovery

Published in the Daily Star (15 June 2009)

budget for recession

Incidentally when the manifestos for National Election 2008 were being prepared, the world economy was already in recession and the election promises were linked with the recovery. This must have facilitated the budget to address the recession and election promises in chorus and with success.

The budget admits the challenges ahead forecasting a 5.5% GDP growth, but it also aims to change that conservative scenario by promoting investment, decentralisation and infrastructural development. The finance minister has received a mixed (though largely positive) response for various proposals. This article however underscores few uncertainties surrounding the budget proposals.

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The first cut is the deepest

Published in the Daily Star (11 June 2009)

The finance minister is set to put forward the national budget for fiscal year 2009-10 today. This is the first budget of this government after the restoration of democracy and also the first budget of this finance minister under a democratically elected government.

Over the last few months numerous proposals/demands have been made to the finance minister from different stakeholder groups. At the same time, scores of speculations have been printed about the probable size and composition of the budget. Today, as the finance minister rehearses his budget speech, let’s go over some of the key issues that will be fundamental to assess the new budget once it is announced. Read more of this post