Bangladesh hikes defense spends by 8% in budget for FY2021

The Thief
The Thief In Green Uniform.

In last year’s budget, Tk348.42 billion was proposed for the Defence Ministry. The allocation for defence sector in the budget for the 2021-22 financial year has been increased by Tk28.49 billion from the outgoing fiscal year.

Tk376.91 billion has been proposed for the Defence Ministry and other services under the ministry in the national budget for the FY2021-22.

An amount of Tk348.42 billion was proposed for the Defence Ministry in the national budget for outgoing fiscal year.

Finance Minister AHM Mustafa Kamal made the announcement during the budget speech in parliament on Thursday.

Finance Minister AHM Mustafa Kamal placed the proposed total budget of Tk6,036,810 million (USD$4.09 Billion) for FY2021-22. It was Tk5,680,000 million for the outgoing fiscal.

Besides, Tk440 million has been set aside as operating costs of the Armed Forces Division, which was Tk410 million in the FY2020-21.

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Bangladesh’s military spends in year on year

  • Bangladesh military spending/defense budget for 2020 was $4.06 billion a 6.8% Decrease from 2019
  • Bangladesh military spending/defense budget for 2019 was $4.36B, a 18.03% increase from 2018.
  • Bangladesh military spending/defense budget for 2018 was $3.69B, a 13.05% increase from 2017.
  • Bangladesh military spending/defense budget for 2017 was $3.27B, a 0.81% increase from 2016.
  • Bangladesh military spending/defense budget for 2016 was $3.24B, a 15.08% increase from 2015.

Note: 1USD = Tk84.77.

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