As of March this year, the per capita debt of citizens in the country has reached Tk129,239.

Finance Minister Amir Khasru Mahmud Chowdhury shared this information in the national parliament.

In response to a query from Member of Parliament Reza Ahmed on Sunday (September 6), the Finance Minister stated that to reduce the burden of per capita debt on the public, the government is emphasizing increased revenue collection, efficient and proper management of public financing, and greater discipline in debt management.

The minister noted that initiatives are underway to reduce the need for borrowing by increasing the government's own revenue through expanding the scope of tax and non-tax revenue collection.

At the same time, plans are in place to ease the pressure on government financing by making public expenditure more cost-effective and efficient, while controlling unnecessary and lower-priority spending.

The Finance Minister mentioned that market-based and disciplined debt management policies are being followed to minimize interest rate and refinancing risks on public debt.

To achieve this, steps have been taken to make the government securities market more efficient and competitive, reform the domestic debt market, and expand the investor base.

He added that a designated limit is being followed to control excessive borrowing through savings certificates (sanchayapatra).

Additionally, measures are being taken to align the interest or profit rates of savings certificates with market conditions and prevailing interest rates.

The Finance Minister stated that these initiatives will help reduce reliance on relatively high-interest loans, keep overall government interest expenditures under control, and build a more balanced debt portfolio.

Furthermore, the government is emphasizing the formulation and adherence to an annual borrowing plan to prevent excessive and unplanned borrowing.