The United States has issued eight recommendations to improve fiscal transparency in Bangladesh. These suggestions came on Friday through the US Department of State’s Fiscal Transparency Report 2025.
According to the report, the interim government has largely followed the budget framework of the previous administration. However, it has undertaken several important reform measures to enhance fiscal openness.
The recommendations include publishing end-of-year financial reports within a reasonable timeframe, preparing budget documents in line with international standards, disclosing expenditures of the executive office separately, and presenting a complete picture of government revenues and expenditures.
The report also advised ensuring the independence of the supreme audit institution according to global standards, publishing audit reports in a timely manner with detailed findings and recommendations, releasing key information of natural resource extraction contracts, and making government procurement data public.
It further noted that the previous government published the executive budget proposal and enacted budget online but failed to release end-of-year financial reports on time. While budget information was generally reliable, it was not fully aligned with the best international practices.
Although debt figures, planned expenditures, revenues, and natural resource earnings were published, the budget lacked a full account of executive office spending.
The report added that while allocations and earnings of state-owned enterprises were disclosed, a substantially complete picture of revenues and expenditures was absent.
The US State Department observed that the supreme audit institution could not fully review government accounts under the interim government and that the body did not meet international standards of independence.
It acknowledged that while legal standards were followed in awarding natural resource contracts, limited information was provided on public procurement.
The report also recognised that the interim government suspended ongoing and previous direct procurement methods and made resource extraction processes fully open and transparent.
