Intervention of Mr. Md. Faruk Hossain, Minister, Bangladesh Permanent Mission to the UN at the Panel discussion-1 titled Coping with cascading crises and investing in sustainable development: How to make the right policy choices? 2023 ECOSOC FFD Forum, 17 April 2023, UNHQs

Madam Moderator,

Distinguished panelists,

Thank you for your insightful presentations on policy options about coping with the impacts of cascading crises and investing in SDGs.

I have just one question about domestic resources mobilization in the developing countries, particularly in the least developed countries.

Most panelists today highlighted the importance of domestic resources mobilization for coping with present challenges and financing the SDGs. We think that this is easier said than done.

In that context, my question is, madam moderator, under tighter financial conditions where our fiscal space is ever shrinking, when our imports have become costlier, when our exports are diminishing, FDI flows are falling, our debt level and debt service payment requirement is increasing, and when we are required to spend more on commodities including food and fuel, what policy interventions can really work for domestic resource mobilization?

I thank the moderators once again for their interventions.