Budget Estimation of the Union: Deputy Prime Minister attends the coordination meeting

A Coordination Meeting on presenting the Budget Estimation of the Union for 2023-2024 fiscal year was held at the meeting hall of the Office of the Chairman of the State Administration Council in Nay Pyi Taw on Thursday.

Deputy Chairman of Financial Commission, Vice Chairman of State Administration Council Deputy Prime Minister Vice-Senior General Soe Win delivered a speech at the meeting.

In his opening speech, the Deputy Prime Minister said at present, the rate of infection of the COVID-19 pandemic has been well controlled, and domestic businesses have returned to normal operations.

It is estimated that in the 2023-2024 fiscal year, more income tax could be received than the 2022-2023 fiscal year. Depending on the condition of income, the expenditure will be allocated for 2023-2024 fiscal year while controlling the condition of the budget deficit.

He continued that the government has to allocate budget including the salaries and allowances for the Public Servants, wages, maintenance fees, social protection allowance and the capital expenditure for the development of basic infrastructure.

He added that the priorities have to be made in budget allocation for human resource development in education and health sectors, socio-economic development of people and development of agriculture, livestock breeding, transportation, electricity and energy sectors. He also stressed the need to reduce fuel consumption to avoid using a large sum of foreign currency for importing.

For the budget allotment for construction of new offices and staff housings, the Deputy Prime Minister said the allowance will be made depending on the conditions such as securities.

It was followed by the general round of discussion by the responsible personal on the Budget Estimation of the Union for 2023-2024 fiscal year. In response to the reports, the Deputy Prime Minister gave necessary instructions.