Want to see finance minister successful, not popular: Hossain Zillur Rahman

Former caretaker government adviser and economist Hossain Zillur Rahman has urged Finance Minister Amir Khasru Mahmud Chowdhury to place greater emphasis on success rather than gaining popularity through the budget.

“We want to see the finance minister successful rather than popular,” Hossain Zillur Rahman said.

He made the remarks today, Thursday, at a roundtable organised by Prothom Alo. The discussion is being held at a hotel in the capital, with economists, businesspeople and researchers in attendance.

The former adviser stated that public expectations are for a relief-oriented budget. An ambitious budget is not what people expect at the moment. There is a crisis of confidence among everyone, from investors to ordinary citizens. It is essential to overcome this crisis of trust through various budgetary measures.

He further said that multiple sectors of the economy are currently facing different crises. The major challenge for the budget is implementation, which cannot be resolved without institutional reform.

Hossain Zillur Rahman added, “We need new growth drivers for GDP growth. At present, the services sector is the main driver of growth. The agriculture sector could become a new growth driver.”

In his view, investment is currently stagnant and growth in the manufacturing sector has declined, which is not a positive sign for the economy.

Hossain Zillur Rahman said people are struggling to balance income and expenditure, and the budget must take this reality into special consideration. Improving the capacity to spend effectively is more important than increasing allocations for education and health.

Allocations should be increased to improve service quality; otherwise, additional funds will only go into building infrastructure, which he believes will not benefit people.