Dhaka, June 23 -- Chronic weaknesses in Bangladesh's revenue system, coupled with sluggish budget execution and rising debt obligations, have emerged as some of the most serious risks to the country's macroeconomic stability, according to a budget document.

The document notes that revenue collection has consistently lagged behind growing expenditure demands, forcing increased reliance on deficit financing and adding pressure on public financial management and long-term debt sustainability.

The country's tax-to-GDP ratio has remained below 8 per cent for years, significantly lower than that of regional and economic peers, severely limiting the government's ability to mobilise domestic resources.

According to the budget document, total r...