In a bid to curb rising inflation and stabilize the economy, Bangladesh unveiled a Tk 7.97 trillion national budget for the upcoming fiscal year today.

Finance Minister AH Mahmood Ali started presenting the proposed budget at noon in a opposition-less parliament, where it is expected to be swiftly approved

This budget announcement comes at a crucial juncture for Bangladesh, as the country grapples with a multitude of economic challenges.

Soaring inflation rates have put a significant strain on consumers and businesses alike, while a volatile exchange rate and dwindling foreign reserves have further exacerbated the situation.

The budget, themed "Pledge towards building a happy, prosperous, developed and smart Bangladesh," aims to steer the nation towards a brighter future in the upcoming fiscal year, said Ali while tabling it.

He hoped that this contractionary budget would address these pressing issues and set the nation on a path towards economic recovery.

By prioritizing measures to control inflation, stabilize the currency, and boost foreign reserves,Bangladesh aims to regain its footing as a leading economy in the region, he said.

The budget includes a range of initiatives designed to stimulate growth and create jobs, while also providing targeted support to vulnerable sectors of the population.

With a focus on infrastructure development, social welfare programs, and fiscal discipline, the government aims to build a more resilient and equitable economy for all Bangladeshis.