2022 Fiscal Transparency Report: Bangladesh

Government-by-Government Assessments: Bangladesh

During the review period, the government made significant progress by publishing its end-of-year report within a reasonable period.  It also made its executive budget proposal and enacted budget widely and easily accessible to the public, including online.  Information on debt obligations was publicly available.  Budget documents provided a reasonably complete picture of the government’s planned expenditures and revenue streams, including natural resource revenues.  Financial allocations to and earnings from state-owned enterprises were included in publicly available budget documents.  Information in the budget was considered generally reliable, although budget documents were not prepared according to internationally accepted principles.  The government’s supreme audit institution reviewed the government’s accounts, but its reports did not contain substantive findings and were not made publicly available within a reasonable period.  The supreme audit institution did not meet international standards of independence.  The government specified in law or regulation and appeared to follow in practice the criteria and procedures for awarding natural resource extraction contracts and licenses.  Basic information on natural resource extraction awards was not consistently made publicly available.

Bangladesh’s fiscal transparency would be improved by:

• Preparing budget documents according to internationally accepted principles;
• Ensuring the supreme audit institution meets international standards of independence and has sufficient resources;
• Publishing timely audit reports that contain substantive findings, recommendations, and narratives; and
• Making basic information about natural resource extraction awards publicly and consistently available.