The interim government’s Finance and Commerce Adviser Dr Salehuddin Ahmed said that Bangladesh’s export data inconsistencies will be reconciled soon, along with a projection after fixing export earning targets.

He shared the update during a briefing at the Bangladesh Secretariat on Monday.

The adviser mentioned that discrepancies had been identified between the export data of the Export Promotion Bureau (EPB) and the ASYCUDA system of the National Board of Revenue (NBR).
“I’ve asked them (EPB) to reconcile the export data, and it will be done as soon as possible. I’ve also requested them to prepare a projection,” Dr Ahmed stated.
He also informed that the EPB board meeting would be held soon to finalise the export targets and complete the data reconciliation.

He acknowledged that there was a gap between the export data of the Bangladesh Bank and ASYCUDA of the NBR, and efforts are underway to resolve the issue.
On 3 July, the Bangladesh Bank released Balance of Payments data for the July-April period of the fiscal year 2023-24, revealing a significant discrepancy—nearly US$14 billion less—between the central bank’s reconciled export data and the initial figures reported by the EPB.

While the EPB reported a 3.93% growth in exports during this period, the reconciled data showed a 6.8% decline.
Addressing concerns about the impact of the reconciled export data on GDP calculations, Dr Salehuddin Ahmed clarified that GDP is typically calculated using the production method, involving around 19 sectors, and therefore, the revised export data is unlikely to significantly affect GDP figures.

‘Dilapidated currency notes to be replaced soon’

During the briefing, Dr Ahmed also addressed the issue of dilapidated currency notes, particularly Tk5, Tk10, and Tk20 denominations, attributing the problem to mishandling by the public.
He noted that this issue is less common with foreign currencies like the US dollar.
The former central bank governor said he would raise the issue with the current governor, emphasising that old notes cannot be replaced until new ones are ready.
Regarding the condition of currency notes, Dr Ahmed emphasised the importance of proper handling, urging the public to be more mindful when using the country’s currency.
The adviser also mentioned that the national budget might be revised or reconsidered either this month or next. He indicated that decisions regarding major development sector projects in the budget would be made at the highest level of government.
He highlighted recent actions taken by the interim government, including the repealing of the provision for whitening black money and the reconstitution of bank boards to enhance their performance.
Regarding the upcoming revision of the Annual Development Programme (ADP), the finance and commerce adviser said that the Planning Adviser, in coordination with the Economic Relations Division (ERD), will make necessary adjustments, rationalising the national budget and eliminating unnecessary expenditures.
Commerce Secretary Md Selim Uddin, EPB Vice Chairman Md Anwar Hossain, and other senior officials were also present at the meeting.