Decision on use of forex reserves before next budget: Finance minister

Government will decide on the use of foreign exchange reserves before the next budget announcement.

The prime minister’s office is now studying if the country’s foreign exchanges can be invested in the mega projects, said Finance Minister AHM Mustafa Kamal after the virtual meeting of cabinet committee on public purchase on Thursday.

The final decision will be made before the next budget announcement, he said, adding: “We hope that the foreign exchange reserves will reach $50 billion within 2030.”

Country’s foreign exchange reserves hit a record $42.09 billion on December 15, amid the Covid-19 pandemic.