We inherited a completely destroyed economy: Khosru

Democratising the economy by ensuring people from all sections of society can participate in and benefit from economic activities is a core priority of the government, said Finance Minister Amir Khosru Mahmud Chowdhury today.

“Political democracy alone is not enough. If I cannot democratise the economy, political democracy cannot be successful,” he said at a programme at Bangladesh University of Engineering and Technology (Buet), marking the July uprising of 2024.

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Khosru said the previous Awami League regime had occupied the economy through patronage while keeping people out. “In our budget, we brought the people inside who were previously barred from participating in the economy,” he said.

He said people across the country had made sacrifices for change. “From women to children to labourers, all wanted the change. Government has to ensure a role in the full life cycle of citizens to bring positive change in their fate,” he said.

The finance minister noted that the current fiscal year’s budget carried the highest allocation for people with disabilities compared to any previous time. He highlighted initiatives such as the Family Card, Farmer Card, primary healthcare, and support for creative and sports industries as part of that goal.

Claiming he inherited a devastated economy, Khosru said, “I found a completely destroyed economy where there was no money in the banks. The stock market was ruined. The banks were empty. There was no money in the government coffers, and liabilities had been left behind. The biggest thing is, there is no money. If you start from zero, there still is an advantage. But now we are starting from minus.”

State Minister for Youth and Sports Aminul Haque, Buet VC Prof Dr Eqramul Hoque and families of the uprising victims attended the event.