Bangladesh Narrows Fiscal Deficit, Cuts Spending in Budget
Bangladesh's interim government targeted a smaller fiscal deficit and lowered spending in its maiden budget, as the South Asian nation aims to meet conditions for future International Monetary Fund loans, critical for the crisis-hit economy.
The fiscal deficit for the year beginning July 1 is estimated at 3.6% of gross domestic product from 4.6% in the current year, Finance Adviser Salehuddin Ahmed said in a televised budget speech on Monday. That's the lowest since the 2010-11 fiscal year when it stood at 3.8%.
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