Bangladesh Economic Association (BEA) feared that increased bank borrowing and expenditure in the unproductive areas in the proposed budget will push inflation up to double digit next year. The proposed budget will promote corruption as the continued provision for whitening black money will basically serve the interests of the corrupt people, the association said at a post-budget press briefing on Saturday at the National Press Club. Criticizing the finance minister, BEA President Kazi Kholiquzzaman said the finance minister backtracked from his earlier position and could not keep some of the commitments he had made in several pre-budget meetings due to pressures from politicians and businessmen. Corruption, bribe, default loan, politicisation and nepotism have created an alarming situation in the society, he said, identifying corruption as the main reason for slow poverty reduction and economic growth.
