Bangladesh’s leading economic journalists’ body has called for sweeping structural reforms, stronger inflation control and measures to boost private investment, warning that the economy is passing through an “abnormal and challenging” period.
The Economic Reporters Forum (ERF) presented its recommendations for the 2026–27 fiscal year during a pre-budget meeting with Finance Minister Amir Khasru Mahmud Chowdhury at the Secretariat on Saturday. The delegation was led by ERF President Doulot Akter Mala.
ERF stressed the need for a “time-befitting and special” budget focused on equitable resource distribution, reducing social inequality and protecting citizens’ rights, alongside restoring macroeconomic stability.
Growth and stability priorities
The forum said the upcoming budget should aim to accelerate GDP growth while ensuring macroeconomic stability. It warned that Bangladesh must strengthen its banking sector and foreign exchange reserves ahead of its graduation from the least developed country (LDC) category to avoid potential economic shocks.
Beyond monetary tightening to curb inflation
On inflation, ERF argued that contractionary monetary policy alone would not be sufficient. It recommended dismantling market syndicates, curbing extortion and introducing regulated profit margins for essential commodities such as edible oil and sugar from wholesale to retail levels.
The organisation also called for the continuation of social safety net programmes, including subsidised food schemes, to shield low-income groups from rising living costs.
Public spending and investment reforms
ERF urged the government to reduce reliance on domestic borrowing for operating expenses and instead increase allocations for development spending. It also called for more public and private companies to be listed on the stock market to deepen capital markets.
Highlighting stagnation in private sector investment, the forum warned of declining job creation and called for a more business-friendly environment, industrial revival and supportive policies for entrepreneurs.
Healthcare, skills and SME focus
Among sectoral proposals, ERF recommended establishing high-quality hospitals in every divisional city, improving oversight of rising healthcare and pharmaceutical costs, and reducing out-of-pocket medical expenses.
It also emphasised the need to expand affordable technical education, develop mid-level management skills through public-private partnerships and reduce reliance on foreign workers by building domestic expertise.
The forum proposed increasing budgetary allocation and policy support for small and medium-sized enterprises (SMEs), describing the sector as critical for employment and economic resilience.
Tax, governance and financial sector measures
ERF called for reforms in the revenue system, including widening the tax net, enhancing transparency in tax exemptions and integrating the National Board of Revenue database with banking information to improve compliance.
It also recommended limiting tax rates on essential goods, education and medical supplies to 0.5%, withdrawing excise duties on small savings and simplifying tax refund processes.
To strengthen governance, the forum urged the government to avoid politically motivated projects, enforce transfer pricing laws and prioritise the recovery of illicitly transferred funds from abroad.
In the financial sector, ERF called for reducing dependence on bank borrowing and strengthening capital markets, arguing that better use of tax data could help curb loan fraud and restore discipline.
“Using NBR’s database to prevent loan fraud could be a game-changer,” the organisation said.
ERF added that implementing its proposals would not only increase government revenue but also reduce the tax burden on ordinary citizens and restore confidence in the private sector.