Bangladesh Jamaat-e-Islami on Thursday termed the proposed national budget for FY2026-27 debt-dependent, unrealistic and vulnerable to corruption, questioning both its revenue projections and implementation capacity.
The party unveiled its formal reaction to the Tk 9.38 lakh crore budget at a press conference at its central office in Moghbazar, Dhaka.
Presenting the party's observations, Jamaat Secretary General Mia Golam Porwar said the proposed budget relies excessively on domestic and foreign borrowing while offering no credible roadmap for achieving its ambitious revenue targets.
He questioned how the government intends to mobilise the projected revenue and finance a budget deficit exceeding Tk 2.36 lakh crore, arguing that the proposal lacks clear measures to ensure transparency, accountability and efficient governance.
Porwar warned that heavy dependence on bank borrowing could crowd out private-sector investment and constrain job creation.
Excessive government borrowing from the banking sector will reduce the flow of credit to businesses, adversely affecting investment, economic growth and employment generation, he said.
Identifying key challenges to budget implementation, the Jamaat leader cited persistent inflation, rising energy costs and ongoing global economic uncertainties.
He noted that repeated hikes in gas, electricity and fuel prices have increased production costs across industries, adding further pressure to businesses and consumers alike.
Porwar also questioned the government's projections of 6.5 percent GDP growth and 7.5 percent inflation for the next fiscal year.
Referring to forecasts by international institutions, including the IMF, he said Bangladesh's economic growth could remain below 5 percent, making the government's targets appear overly optimistic.
The Jamaat secretary general further criticised the proposed Tk 3 lakh crore Annual Development Programme (ADP), arguing that expanding development expenditure without strengthening oversight mechanisms could increase opportunities for waste, inefficiency and corruption.
Comparing the government's proposal with Jamaat's shadow budget, he said the party had proposed a Tk 8.39 lakh crore budget with a substantially lower deficit.
According to him, Jamaat's proposal reflects an alternative economic approach focused on fiscal discipline, reduced reliance on borrowing and stronger social welfare commitments.
The party also opposed the proposed increase in the minimum personal income tax rate from 5 percent to 10 percent, saying it would place an additional burden on lower-middle and middle-income earners already struggling with the rising cost of living.
It expressed concern over higher duties and taxes on industrial raw materials, fuel, electricity and gas, warning that such measures could hurt industrial output and weaken the competitiveness of export-oriented sectors, particularly the ready-made garment industry.
Jamaat called on the government to revise the proposed budget and formulate a more investment-friendly, employment-oriented and people-centric fiscal framework.
