Economist Waheeduddin Mahmud warns of economic instability and foreign debt trap in Budget 2024-25 analysis

Economist Waheeduddin Mahmud warns of economic instability and foreign debt trap in Budget 2024-25 analysis

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Fundamental weaknesses have been exposed in the entire economic system. Comprehensive qualitative changes are required, otherwise it will not be possible to overcome the crisis.

Wahiduddin Mahmud raised the question whether any such initiative was taken from the highest level of the government.

The government is continuously taking foreign loans. Expenditure on interest has increased a lot. In such a situation, the budget can also get caught in the trap of foreign debt, said Wahiduddin Mahmud.

In his speech, Wahiduddin Mahmud highlighted the chaotic state of the country's economy.

He said that there is no control in the banking sector, the administration is full of corruption. There is no atmosphere of trust. Black money is flowing freely. Capital is fleeing indiscriminately. The economy was surrounded by problems earlier too, but today it had the capacity to face all this. But now it does not have that strength and that is why all these problems are coming to the fore. He said that strict guidelines were needed to face such realities.

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