DHAKA: Bangladesh’s budget documents provided a broad picture of the government’s planned expenditures and revenue streams but they lacked details, said a new US report released on Thursday. The budget did not identify allocations to and earnings from state-owned enterprises, or natural resource revenues, the report said. The US State Department released the 2016 Fiscal Transparency Report. The report found that 76 of 140 governments reviewed by the Department met minimum requirements of fiscal transparency. Eight governments found not to meet minimum requirements made significant progress towards meeting minimum requirements.
During the review period, Bangladesh’s budget and information on debt obligations were widely and easily accessible to the public, including online. The report said Bangladesh’s supreme audit institution reviewed the government’s annual executed budget but its reports were not publicly available within a reasonable period of time.
The criteria and process for allocating licenses and contracts for natural resource extraction were outlined in law and appeared to be followed in practice. Basic information on natural resource extraction awards was not consistently publicly available online or in an official gazette, despite details being announced at the time of awards.
Bangladesh’s fiscal transparency will be improved by making budget documents substantially complete with greater details on natural resource revenues and allocations to and earnings from state-owned enterprises, according to the report. The report also mentioned making budget audit reports publicly available within a reasonable period of time; and making basic information about natural resource extraction licenses and contracts publicly available which can help improve transparency.
The US State Department evaluated the public availability, substantial completeness, and reliability of budget documents, as well as the transparency of processes for awarding government contracts and licenses for natural resource extraction. The report described the minimum requirements of fiscal transparency developed, updated, and strengthened by the Department, reviews 140 governments receiving assistance by the Act that were originally identified as recipients of assistance in the 2014 Fiscal Transparency Report, assesses those that did not meet the minimum fiscal transparency requirements. The report indicates whether governments that did not meet those requirements made significant progress toward meeting the requirements during the review period of 1 January – 31 December 2015.
