Dhaka, July 11 -- More focus needs to be given on sourcing funds from external sources, reducing dependency on bank borrowing, to mitigate the budget deficit, according to the experts and stakeholders.

Suggesting reduction of source tax for export oriented sectors to 0.25 per cent, they also said agriculture and agro processing industries need to be supported and remain functional with strong local-supply chain system to ensure low-cost food security.

They made the remarks at a Dhaka Chamber of Commerce & Industry (DCCI) webinar titled 'Current State & Future Outlook of Bangladesh Economy' on Saturday.

The DCCI President Shams Mahmud said due to COVID-19 impact, private investment slid down to 12.72 per cent in FY20 compared to 23.54 p...