Brunei government proposes 4.43 bln USD budget for new fiscal year
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E-mail Xinhua, March 7, 2023
BANDAR SERI BEGAWAN, March 6 (Xinhua) -- Brunei's government on Monday proposed a budget of 5.96 billion Brunei dollars (4.43 billion U.S. dollars) for fiscal year 2023/24, compared to last fiscal year's 5.7 billion Brunei dollars.
Presenting the budget plan at a session of the 19th Legislative Council meeting, Haji Mohd Amin Liew Abdullah, minister at the Prime Minister's Office and second minister of finance and economy, said the new budget has three priorities of maintaining public well-being, supporting inclusive and sustainable recovery, and building dynamic, proactive and innovative human capital.
The minister said the budget plan aims to further strengthen the sustainability of the country's economy, noting that the government will continue its commitment to building a sustainable, dynamic and resilient economy for stable growth in efforts to achieve Brunei Vision 2035.
On the government's financial position for fiscal 2022/23, the official said that following hikes in global oil prices, the government's projected revenue has been updated to 6 billion Brunei dollars, and its expenditure is projected to be 5.9 billion Brunei dollars. (1 Brunei dollar equals 0.74 U.S. dollar). Enditem
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