United News of Bangladesh

The Cabinet Committee on Government Purchase on Wednesday approved a proposal to extend the existing contract for the online collection of motor vehicle (MV) taxes and fees for the Bangladesh Road Transport Authority (BRTA). The recommendation came at a meeting of the committee held at the Secretariat with Finance Minister Amir Khosru Mahmud Chowdhury in the chair. According to official sources, the proposal was submitted by the Road Transport and Highways Division to facilitate the continuation and expansion of services related to the collection of MV taxes and fees through the online banking platform. The original contract value stood at Tk 218.71 crore. A variation amounting to Tk 21.43 crore has been proposed, raising the revised contract value to Tk 240.14 crore, which is 9.8 percent higher than the original contract amount. The recommended contractor is Computer Network Systems (CNS) Limited.

Finance Minister Amir Khosru Mahmud Chiwdhury on Monday directed officials to ensure that the Family Card programme is implemented in a transparent manner free from any political influence, so that benefits reach the intended recipients. The directive came during the fourth meeting of the Cabinet Committee on Family Card Distribution held at the conference room of the Ministry of Finance. The meeting reviewed and approved the administrative expenditure required for implementing the Family Card programme and finalised the revised 2026 guidelines for piloting the initiative. The committee also reviewed and gave policy approval to the draft Family Card Implementation Policy, 2026, which is expected to provide a structured framework for identifying eligible beneficiaries and distributing support under the programme. Officials said the policy and guidelines are aimed at ensuring transparency, accountability and efficiency in the implementation process while preventing irregularities and political interference in beneficiary selection. The Family Card programme is being introduced as part of the government’s broader social protection efforts to support low-income and vulnerable households across the country. Speaking at the meeting, the Finance Minister stressed the importance of establishing a fair and credible beneficiary selection process so that the programme serves those who are genuinely in need. Among others, Social Welfare Minister Prof Dr A.Z.M. Zahid Hossain, State Minister for Social Welfare Farzana Sharmin, and State Minister for Local Government, Rural Development and Cooperatives Mir Shahe Alam attended the meeting.

Finance Minister Amir Khosru Mahmud Chowdhury has said the government expects inflationary pressures to ease gradually through structural reforms aimed at reducing the cost of doing business, improving efficiency and strengthening supply chains. “Inflation in Bangladesh is not a short-term phenomenon but the result of several years of accumulated pressures, compounded by global conflicts, rising import costs and weaknesses in the banking sector,” he said today (Friday), while addressing a post-budget press conference at the Osmani Memorial Auditorium. The finance minister, who presented his first budget yesterday, noted that inflation has remained above 9 percent for the past three years. External factors, including conflicts in the Middle East, have pushed up global commodity prices, while capital shortages in banks caused by loan defaults, fraud and money laundering have increased the cost of funds. He said that imported goods had become more expensive due to global developments and that Bangladesh had limited control over such external inflationary pressures. However, the government could reduce domestic inflation by lowering business costs through deregulation, administrative reforms and improved efficiency, he said. According to Amir Khosru, businesses in Bangladesh face excessive costs due to lengthy approval processes, bureaucratic delays, high borrowing costs, inefficiencies at ports and weaknesses in taxation and regulatory systems. “Inflation cannot be controlled by deploying police, regulatory agencies or government officials in markets. It has to be managed through sound policies and efficient administration,” he said. The newly elected BNP government's first budget set an inflation target of 7.5% for the next fiscal, against a GDP growth expectation of 6.5%. Khosru said the government would focus on improving ease of doing business, reducing unnecessary regulations and ensuring greater transparency across public institutions. He added that reforms in ports, logistics and procurement systems would also help lower costs. The finance minister stressed the need for long-term procurement planning, saying Bangladesh should maintain strategic reserves of fuel, food and fertiliser to reduce vulnerability to global market shocks. Referring to energy imports, he criticised past reliance on spot purchases and said the government intended to pursue longer-term procurement arrangements to secure better prices and ensure energy security. On the government’s decision to increase salaries for public servants, Khosru said the move was necessary to address rising living costs after years without significant adjustments. “When people face financial hardship, the tendency towards corruption increases. Improved salaries should help reduce that pressure while ensuring a better standard of living for government employees,” he said. The finance minister also highlighted employment generation as a central objective of the budget, saying investments in education, skills development and private-sector growth would help create jobs both at home and abroad. He said the government had placed particular emphasis on vocational education, reskilling and upskilling programmes to improve employability, especially among young people and educated jobseekers. “Investment means employment. Our focus is on creating demand for jobs through increased investment and improved skills,” he said. Khosru said the budget represented a shift from traditional approaches and reflected changing global economic realities. He reiterated the government’s commitment to reducing dependence on domestic bank borrowing, which he said often crowded out private-sector lending. He noted that planned borrowing from local banks had already been reduced compared with the previous fiscal year and that the government would continue this trend in the coming years. The minister also defended the budget’s emphasis on social protection programmes, saying the largest investments were being made in initiatives designed to support low-income and vulnerable groups. Programmes such as the Family Card, support for farmers, universal healthcare and preventive healthcare services were aimed at improving living standards while preparing beneficiaries for better employment opportunities, he said. Khosru placed special emphasis on the government’s proposed “creative economy” initiative, which seeks to integrate artisans, cultural workers, performers and rural entrepreneurs into the mainstream economy. He said the programme would provide financing, training, design support and market access to traditional craftsmen, weavers, potters, musicians and other creative workers whose contributions had long remained outside formal economic planning. The minister said the government had allocated Tk 800 crore to launch creative economy initiatives, including creative centres, cultural districts, tourism-linked projects and heritage restoration programmes. “Our objective is to monetise culture and creativity so that artists, craftsmen and performers can improve their livelihoods while contributing to economic growth,” he said. Khosru also said the government was reviewing outdated mouza land valuation rates, which are often significantly below market prices, to curb opportunities for whitening undisclosed income through property transactions. A committee has been formed to revise mouza rates and bring them closer to actual market values, although he acknowledged that the exercise would require a nationwide survey and could not be completed before the budget. Responding to concerns about implementation, the finance minister said the government would establish a high-powered task force and an online complaint platform to monitor reform measures and ensure accountability. “No one will be exempt from scrutiny if delays or violations occur. We are committed to implementation,” he said. Earlier, in his opening remarks, Khosru described the budget as an “inclusive” one prepared under exceptional circumstances within less than two months of the new government’s formation. He said the budget sought to move away from what he described as a patronage-based economic model and instead promote “economic democratisation” by extending opportunities to all sections of society. The minister said the government inherited an economy weakened by institutional erosion, financial mismanagement and global economic uncertainty, making budget preparation particularly challenging. He added that future public spending and development projects would be evaluated on four key criteria: value for money, return on investment, job creation and environmental sustainability. “The budget is for all Bangladeshis. No group, profession or community has been left outside its scope,” he said.

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said the government is implementing a wide range of projects on irrigation, flood management, riverbank protection, waterlogging mitigation, drainage improvement and salinity control as part of its sustainable water resources management strategy. He said special initiatives have been taken to restore at least one river in each division by removing illegal encroachments to maintain ecological balance. Under seven ongoing projects, measures are being implemented to clear encroachments and restore the natural flow of several rivers including Dhaleshwari, Louhajang, Alaikuri, Mogra, Salta, Sutang, Bakkhali and Barnai, the Minister said while placing budget in Parliament. The minister said a Water Quality Index (WQI) has been developed for rivers surrounding Dhaka, while an AI and deep learning-based real-time dashboard has been introduced to monitor groundwater levels, aiming to strengthen data-driven water governance. He further informed the House that the Ministry of Water Resources is implementing a nationwide programme titled “Excavation and Re-excavation of Rivers, Canals and Water Reservoirs,” under which 20,000 kilometres of canals, rivers and drainage channels are planned to be excavated over the next five years by relevant ministries. In FY 2026–27 alone, the ministry plans to excavate and re-excavate 680 kilometres of canals, irrigation canals and drainage channels. A GIS-based national canal database will also be developed under a separate project to identify and classify canals across the country. For flood protection, the government has set a target to construct, reconstruct and rehabilitate embankments and flood walls and improve river navigability over a total of 309 kilometres, while 484 kilometres of submerged shoals will be removed. Additionally, 292 kilometres of embankment and flood wall works are currently underway under a 180-day flood protection programme. He also highlighted impacts of upstream dams on the Teesta and Padma rivers, saying reduced water flow has affected agriculture, irrigation, fisheries and biodiversity in Bangladesh’s river basins. In this context, the “Padma Barrage (Phase-I)” project has been approved by the Executive Committee of the National Economic Council (ECNEC). The project, to be implemented from July 2026 to June 2033, includes construction of a 2.1-kilometre main barrage and a hydropower plant at Pangsha in Rajbari. Once completed, the project is expected to enable storage of 2,900 million cubic metres of water, prevent salinity intrusion in the Padma basin including the Sundarbans, support irrigation for 2.88 million hectares of land, and significantly boost agricultural and fish production. The government is also moving ahead with the “Comprehensive Management and Restoration of the Teesta River Project,” commonly known as the Teesta Master Plan, aimed at improving livelihoods in northern Bangladesh.

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said prolonged instability in the Middle East may adversely affect employment opportunities abroad, income flows, and the continuity of remittance inflows. If this trend persists, the Finance Minister said it may emerge as a matter of serious concern for the external sector and labour market stability. He said although remittance receipts have not yet shown any negative impact, early signs of pressure are being observed in manpower deployment. For instance, he said, while around 95,000 workers departed for overseas employment in January 2026, this number declined to around 44,000 in March. Unveiling the national budget for the fiscal year 2026-27 in Parliament, the Finance Minister said the Middle East remains the most significant destination for Bangladesh’s migrant workforce. He said the reality of today’s global economy is that uncertainty is no longer an exception; rather, it has become a permanent feature of economic management, a ‘Neo-Normal’. War, volatility in energy markets, fluctuations in global interest rates, changes in trade policies, and disruptions in supply chains - any one of these can quickly place significant pressure on an import-dependent economy such as ours, he said. In this context, the Finance Minister said their objective is to manage the economy in such a way that minimizes the impact of external shocks on domestic macroeconomic stability, ensuring resilience and continuity in growth and development.

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday announced that a new pay scale for government employees will be implemented in phases starting from July 1, citing the rising cost of living and inflationary pressures. He made the announcement while presenting the proposed national budget for the 2026-27 fiscal year in Parliament. The minister said government employees have been receiving salaries and allowances under the same pay structure for nearly eleven years. “During this period, the cost of living has increased significantly due to inflationary pressures. In recognition of this reality, the government is announcing the phased implementation of a new pay structure for public employees beginning on 1 July 2026.: He said merit, integrity, competence, experience, and professional qualifications will serve as the principal criteria for all appointments, transfers, and promotions across the public service in the government’s pursuit of building a “Meritocratic Bangladesh.” Khosru expressed firm belief that the ongoing reforms will extend far beyond the simplification of administrative procedures. “They will contribute to improving the overall business environment, attracting greater domestic and foreign investment, creating new momentum for enterprises of all sizes, strengthening the foundations of production and exports, and expanding employment opportunities across the economy.” An amount of Tk 89,380 crore has been earmarked for salaries and allowances of government officials and employees in the next fiscal year. The allocation is Tk 4,641 crore, or 5.47 percent, higher than the revised allocation of Tk 84,739 crore in the outgoing fiscal year. According to budget documents, the original allocation for government salaries and allowances in FY26 was Tk 84,114 crore, which was later revised upward to Tk 84,739 crore. The proposed allocation also marks a significant increase from the actual expenditure of Tk 69,423 crore recorded in FY25, indicating a rise of nearly Tk 20,000 crore in annual spending on government pay and benefits over two years. Of the total allocation, Tk 13,874 crore has been earmarked for officers’ salaries, up from Tk 12,927 crore in the revised budget for FY26, reflecting an increase of Tk 947 crore. For salaries of employees, Tk 30,671 crore has been allocated, compared to Tk 29,170 crore in the revised budget, registering an increase of Tk 1,501 crore. The largest share of the allocation will go to allowances, which have been proposed at Tk 44,835 crore, up from Tk 42,642 crore in the revised budget. The increase in this category alone amounts to Tk 2,193 crore. According to the experts, annual increases in salary and allowance allocations have become necessary due to rising living costs, inflation and the continued recruitment of personnel in public service. An analysis of the proposed budget shows that the government's total recurrent expenditure has been estimated at Tk 5.51 crore for FY27, with around 16.2 percent of the amount set aside for salaries and allowances of government employees.

Finance Minister Amir Khosru Mahmud Chowdhury is now unveiling the national budget – with an outlay of Tk 9.38 lakh crore – for the fiscal year 2026-27 in Parliament. He began presenting the annual financial statement at 3:05pm on Thursday after obtaining permission from Speaker Hafiz Uddin Ahmad. Diplomats and distinguished citizens are attending the budget session. Invited guests are listening to the finance minister’s budget speech from the VVIP and other visitors’ galleries. Cabinet approves proposed national budget for FY27 Cabinet Secretary Nasimul Ghani, Chief of Army Staff General Waker-Uz-Zaman, Chief of Naval Staff Admiral M Nazmul Hassan, Chief of Air Staff Air Chief Marshal Hasan Mahmood Khan, Attorney General Ruhul Quddus Kazal, Principal Secretary to the Prime Minister ABM Abdus Sattar, and Additional Press Secretary to the Prime Minister Atikur Rahman Rumon sat in the front row of the gallery to the Speaker’s right. Economist Dr Debapriya Bhattacharya, Dhaka South City Corporation Administrator Abdus Salam, Dhaka North City Corporation Administrator Safiqul Islam Khan, along with other senior government officials, were also present. Foreign diplomats, including British High Commissioner in Dhaka Sarah Cooke and European Union Ambassador Michael Miller, along with ambassadors and high commissioners from various countries, sat in the gallery to the Speaker’s left. Prime Minister’s advisers Ismail Zabihullah, Mahdi Amin, Zahed Ur Rahman, Rehan Asif Asad and SM Ziauddin Hyder were also in the VVIP gallery. Finance Minister enters House with budget briefcase Earlier, President Mohammed Shahabuddin authenticated the budget around 2:30pm, said his Press Secretary Sarwar Alam. Before that, the Cabinet approved the proposed national budget at a special meeting held at the Cabinet Room of the Jatiya Sangsad Bhaban with Prime Minister Tarique Rahman in the chair. The finance minister, and other ministers and state ministers attended the meeting that began at about 10:00am and ended around 1:00pm. This year’s budget is expected to focus on controlling inflation, generating employment, encouraging investment, strengthening economic stability and supporting lower-income and disadvantaged groups, according to the finance minister and government officials. The government has set an overall revenue mobilisation target of Tk 6.95 lakh crore to finance the expenditure programme. Of the total revenue target, the National Board of Revenue (NBR) is expected to collect Tk 6.04 lakh crore. Another Tk 25,000 crore is projected to come from non-NBR tax sources, while non-tax revenue receipts are estimated at Tk 66,000 crore. A significant portion of the budget will be spent on debt servicing. The government has allocated Tk 1.27 lakh crore for interest payments, including Tk 1.05 lakh crore for domestic debt and Tk 22,500 crore for foreign loans. The proposed budget projects an overall deficit of Tk 2.43 lakh crore. To finance the deficit, the government plans to borrow Tk 1.09 lakh crore from external sources and Tk 1.12 lakh crore from the banking system. The remaining Tk 15,000 crore is expected to be mobilised through national savings certificates. With this, the BNP government is going to present a national budget in Parliament after for 20 years following its return to power with a majority in the 13th parliamentary election. The last budget presented by a BNP government was for FY 2006-07, when then Finance Minister M Saifur Rahman placed the budget in Parliament during the administration of former Prime Minister Khaleda Zia. Bangladesh’s budget journey began in 1972 when Finance Minister Tajuddin Ahmad presented the country's first national budget worth Tk 786 crore. Since then, successive governments have used the annual budget as the principal instrument for implementing economic and development policies. The FY27 budget comes in a changed political environment following the July 2024 uprising and the subsequent political transition that paved the way for the 13th parliamentary election and the formation of an elected government. Last year, the budget was presented outside Parliament by Finance Adviser Salehuddin Ahmed of the interim government, led by Prof Muhammad Yunus, and broadcast through state-run Bangladesh Television (BTV). The proposed new budget is expected to be passed by Parliament on June 30 and will take effect from July 1, the first day of the new fiscal year.  

Finance Minister Amir Khosru Mahmud Chowdhury on Monday said the FY 27 ADP reflected the electoral commitments and long-term reform agenda of the newly elected government. “It is a reform-oriented and ambitious investment plan aimed at steering Bangladesh from a fragile economy towards prosperity, he said briefing reporters after the National Economic Council (NEC) meeting chaired by Prime Minister Tarique Rahman. The NEC meeting approved an Annual Development Programme (ADP) worth Tk 3 lakh crore for the 2026-27 fiscal year. This is a very important NEC meeting from many perspectives, he said. “After a long time, an elected government in Bangladesh is going to present a budget and a development plan. The proposed framework reflects our election manifesto and overall development vision.” He said the government’s strategy was centred on recovery, transition and reconstruction from what he termed a fragile economic condition inherited from the past. As part of that effort, the government has prepared a five-year roadmap titled “Five-Year Strategic Framework for Reform and Development,” which outlines priorities for economic recovery, institutional reform and sustainable development. The Finance Minister said the first pillar of the framework focuses on reforming state institutions, expanding judicial and legal services, administrative digitalisation, strengthening law enforcement agencies and modernising public investment management. He also announced plans to introduce a multi-year public programme management system. Khosru said the proposed ADP for FY2026-27 was not limited to infrastructure development but also aimed at establishing a non-discriminatory society, a sustainable economy and balanced regional development. According to the proposal, the total size of the ADP has been set at Tk 3 lakh crore, of which Tk 1.90 lakh crore will come from the government’s own resources, while Tk 1.1.10 lakh crore will be financed through project loans and grants. He said the larger ADP size compared to the current fiscal year reflected the government’s confidence in improving implementation efficiency under an elected administration. “We believe an elected government will have greater implementation capacity and efficiency,” he said. The minister also announced stricter criteria for appointing Project Directors (PDs), saying the government wanted to eliminate politically influenced or incompetent appointments that had contributed to corruption and delays in project implementation in the past. “There will now be clear criteria for appointing Project Directors. Only those who fulfil the criteria will be eligible,” he said. He said the government would closely monitor all development projects through ministry-based dashboards tracking real-time progress. Ministries would be required to monitor delays and take immediate corrective measures where implementation lagged behind schedule. Khosru said around 1,300 ongoing projects inherited from previous governments including Awami League(now facing ban on its activities) and Professor Yunus-led interim government are currently under review. He alleged that many of those projects were driven by corruption, inefficiency or political considerations rather than public interest. “Projects that are not viable or no longer necessary will be dropped,” he said. “For projects that have progressed significantly, further reviews will determine whether completing them would benefit the country and its people.” The Finance Minister stressed that all future projects must be completed within the stipulated timeframe and warned that there would be no scope for repeated deadline extensions. He added that the Implementation Monitoring and Evaluation Division (IMED) would investigate projects affected by corruption or serious mismanagement and recommend action against those responsible. Responding to questions over the large allocation under block grants and social protection schemes, Khosru said the government had kept substantial allocations aside because many existing projects were likely to be cancelled after review. The funds would later be redirected to new and priority projects based on necessity and public benefit, he said. He defended separate welfare cards for different groups, including farmers and families, saying targeted benefits required separate identification systems. “The beneficiaries of farmer cards and family cards are not necessarily the same. These are targeted support mechanisms and must remain separate,” he said. The Finance Minister said all future projects would be evaluated on the basis of “value for money,” return on investment and employment generation. “We do not want jobless growth,” he said. “Every project must contribute to employment and economic productivity.” He also emphasised climate considerations in development planning. Replying to a question about the government’s ability to implement such a large ADP amid weak revenue collection, Khosru acknowledged that Bangladesh’s tax-GDP ratio remained among the lowest in the world. He said the government is preparing a major reform programme for the National Board of Revenue (NBR) to expand the tax network and bring more people into the formal tax system. “For years, the same taxpayers have carried the burden while the tax net remained narrow,” he said. “We are going to expand the network significantly.” The minister expressed optimism that improved governance, leadership and investor confidence would support economic recovery and higher investment flows. He claimed that several international investors and fund managers had recently shown interest in Bangladesh because of the government’s reform agenda and leadership commitment. Referring to implementation concerns in the health and education sectors, Khosru said the government planned to significantly expand technical and vocational education institutions with internationally recognised accreditation and certification systems. He said investments in healthcare, education and skills development were essential to achieving universal healthcare, boosting employment and strengthening export competitiveness. When asked whether the ambitious ADP posed a financial risk given the country’s economic constraints, Khosru defended the decision by comparing the economy to a tube well that requires water to be poured in before it starts flowing again. “This fragile economy cannot recover without investment,” he said. “That is why we are going for a large development budget.”  

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Tuesday said the country’s financial sector would operate independently, assuring that there would be no political interference in investment and loan allocations.  “The government will not interfere in the financial sector. There will be no political meddling in the investments. This is a clear and firm decision from the government and the Prime Minister,” the Minister said while speaking as the chief guest at the launch of the inaugural fund of the Bangladesh Startup Investment Company (BSIC) at a city hotel. Marking a historic shift in the country's entrepreneurial landscape, 39 commercial banks have jointly launched BSIC, Bangladesh’s first institutionally managed venture capital platform. With an initial capital of Tk 425 crore, the platform aims to reduce the startup ecosystem's heavy reliance on foreign funding. Minister Amir Khosru said Bangladesh is entering a new stage of economic transformation where productivity, technology, and private-sector innovation will be the primary growth drivers. “BSIC reflects our confidence in the potential of young entrepreneurs to build globally competitive institutions,” he added. Bangladesh Bank Governor Md. Mostaqur Rahman emphasised that the next phase of development requires institutions that uphold discipline, transparency, and accountability. From July, all business establishments must implement Bangla QR code for transactions to boost digital inclusion. In addition to the banks' initial Tk 425 crore investment, Bangladesh Bank will provide an additional Tk 500 crore as a refinancing fund for venture capital. The fund was formed by banks contributing 1 percent of their net profits from the last five years. This will be a continuous investment cycle covering Seed, Late Seed, and Series-A rounds. BSIC Chairman and Managing Director of City Bank PLC, Mashrur Arefin, said while Bangladesh’s startup sector has raised over $1 billion since 2010 through 450+ deals, less than 7 percent of that capital came from domestic sources. “BSIC is not just a fund; it is an institutional platform bridging local trust with global venture standards,” Arefin said, adding that the facility will extend beyond tech startups to include small and medium enterprises (SMEs). The event saw participation from high-profile international venture capital firms, including Wavemaker Partners (Singapore), 500 Global, ADB Ventures, and Sturgeon Capital, among others.  To ensure global standards, Sami Ahmed, former General Partner at B Capital, has been appointed as an advisor to the BSIC board. BSIC announced that it aims to complete its first three investments before the end of 2026. The company plans to appoint a Managing Director and a Chief Investment Officer by the third quarter of this year to streamline its investment committee. Experts believe this organised entry of domestic banks into the venture capital space will strengthen corporate governance and make local startups more attractive to foreign partners.

Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday told Parliament that Bangladesh’s foreign debt stood at around $78 billion as of February 2026. “According to the account up to February, 2026, the foreign debt of the Bangladesh government amounts to $78,067.20 million,” he said while replying to a starred question from independent lawmaker Rumeen Farhana (Brahmanbaria-2). Earlier, the Tuesday’s sitting of parliament started at 3:00 pm with Speaker Hafiz Uddin Ahmad, Bir Bikram, in the chair. The finance minister said the Economic Relations Division (ERD) repays foreign loans on behalf of the government. Each fiscal year, a projection is prepared to estimate the total expenditure for servicing foreign debt including both principal and interest, and necessary allocations are kept in the national budget. Loan repayments are being made from the budgetary allocation throughout the year following a scheduled plan. In reply to a scripted question from treasury bench member Md Shamsur Rahman Simul Biswas (Pabna-5), Khosru said that the government received a total of $85,992.64 million (nearly $86 billion) in foreign loans from 2008–09 fiscal year to 2025–26 fiscal year. During the same period, the government repaid $22,328.47 million in principal and $8,696.82 million in interest, he said. As of December 30, 2025, the foreign debt stood at $77,279.12 million ($77 billion), said Amir Khosru. He told the House that from the 2007–08 fiscal year to February of 2025–26, the government borrowed a total of $87,396.03 million and repaid $22,050.79 million in principal. “As a result, the country’s foreign debt amount increased by $65,346.24 million during this period,” the minister added.