The revenue deficit in the first half of the 2024-25 fiscal year has reached Tk57,891 crore, as the economic shockwaves from the deterioration of law and order and political instability following 5 August continue to reverberate across Bangladesh.
Official data released on Monday (3 February) by the National Board of Revenue (NBR) indicate that revenue collection has also lagged behind the corresponding period of the previous fiscal year.
NBR had set a target of Tk2,14,000 crore for the first half of the current fiscal year; however, actual collections have fallen short at Tk1,56,000 crore, leaving a nearly Tk58,000 crore deficit.
For the full fiscal year, the NBR has been tasked with collecting Tk4,80,000 crore in revenue.
Yet, in the same period last year, revenue collection stood at Tk57,988 crore, which was 0.98% or Tk1,542 crore higher than in the current fiscal year.
With key economic indicators—including imports, exports, and production—continuing to experience a slowdown, revenue collection has remained subdued.
Nonetheless, a slight rebound was observed in December, with a 6.68% growth compared to December of the previous year.
August, the month of the power transition, saw the most significant revenue shortfall in the first half of the financial year.
Following the fall of the previous government, the business environment remained fragile, as law enforcement agencies became inactive due to attacks on police forces.
Traders, fearing instability, hesitated to unload goods and transport them to warehouses or production sites, even after paying import duties.
This reluctance severely impacted revenue collection, which in August alone declined by 14.30% compared to the same period in the previous year.
As economic uncertainty persists, policymakers face mounting challenges in stabilising revenue streams and restoring investor confidence in the post-transition landscape.
