The composition of public expenditure is used as a powerful vehicle by the government to achieve economic and social objectives. The government’s aim is to implement a well-prioritised public expenditure programme that is targeted to promote human development, build infrastructure and services, reach the vulnerable groups and foster a dynamic and competitive private sector.
The government is keen to correct and remedy failures and imperfections in the financial markets. The reforms of the financial sector and trade liberalization are being complemented by an appropriate foreign exchange regime. An active exchange rate policy to maintain the competitiveness of the economy is being followed. Local currency taka has been made convertible in all current account transactions. Laws have been amended to boost private and foreign investments in the financial sector. A number of foreign banks and financial institutions are active in the country.
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