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Source: Bangladesh Posts English
The proposed budget for the next fiscal year 2023-24 allocates 1.76 percent of GDP to the education ministry, which is the lowest allocation in the last 15 years. UNESCO advises investing 4 to 6% of GDP to education, which is significantly more than the planned budget.
Economists and educationists feel that Bangladesh will have difficulties in shifting from a less developed country due to inadequate educational funding.
According to data provided at the Center for Policy Dialogue’s post-budget debate, Bangladesh’s average spending on education as a proportion of GDP from 2016 to 2022 was the fifth lowest among 41 least developed countries.
According to economists, this declining trend will make it impossible to meet the Eighth Five Year Plan aim of boosting education allocation to 3% of GDP by 2024-2025.
Fahmida Khatun, Executive Director of CPD said, “among underdeveloped countries, Bangladesh has the lowest budget in the education sector.”
For the coming fiscal year, the Ministry of Primary and Mass Education, the Department of Secondary and Higher Education, and the Department of Technical and Madrasah Education have each been granted 88 thousand crores.