|Published : 17 Apr 2017, 11:42:42 | Updated : 17 Apr 2017, 11:56:25|
Deficit financing reaches Tk 193.18b
Financing of the budget deficit reached Tk 193.81 billion in the first seven months of the current fiscal year (FY17), according to the central bank estimation.
The figure was Tk 159.54 billion in the same period of the last fiscal year.
The latest deficit financing data also showed that two-thirds of the financing was done by the domestic sources.
The amount stood at Tk 123.22 billion during the July-January period of the current fiscal year, which was Tk 74.76 billion in the same period of FY16.
Of the domestic sources, the government entirely relied on non-bank borrowing as borrowing from the banking system was negative in net terms.
On the other hand, the financing from the foreign source dropped to TK 69.96 billion in the July-January period of the current fiscal year, which was Tk 84.78 billion in the same period of FY16.
The central bank estimate also showed that net deficit financing was around 1.0 per cent of the GDP (Gross Domestic Product) at current market price.
It also showed that outstanding domestic debt stood at Tk 2813.31 billion at the end of January, 2017, which was around 14.35 per cent of GDP at the current market price.