Vice Chairman of Financial Commission Vice Chairman of State Administration Council Deputy Prime Minister Vice-Senior General Soe Win addresses coordinating meeting on presenting Union budget for the fiscal year of 2023-2024
NAY PYI TAW March 9
The coordinating meeting on presenting budget of Union for the fiscal year of 2023-2024 was held Office of Chairman of State Administration Council in Nay Pyi Taw this afternoon with an address by Vice Chairman of Financial Commission Vice Chairman of State Administration Council Deputy Prime Minister Vice-Senior General Soe Win.
The meeting was also attended by Union Minister for Planning and Finance U Win Shein, Union Auditor General U Tin Oo, Deputy Minister U Maung Maung Win and officials. Union level officials, union ministers, the Chairman of Nay Pyi Taw Council and officials attended it through video conferencing.
In his address at the meeting, Vice Chairman of SAC Deputy Prime Minister Vice-Senior General Soe Win said the meeting was to scrutinize the Union budget submitted by the Ministry of Planning and Finance for the fiscal year of 2023-2024.
At the meeting, based on the Five point Roadmap and the 12 Objectives of SAC, plans to be implemented with priority on sectorwise basis and the Union budget submitted by the Ministry of Planning and Finance in accordance with financial rules and protocol would be coordinated and discussed with Union level organizations, ministries and the Nay Pyi Taw Council.
As today, the COVID-19 pandemic is under control well and domestic businesses are back to normal, it is expected that the income in 2023-2024 fiscal year could be more than that in the year earlier. Regarding the expenditure, it will be planned depending on the expected income within the 2023-2024 fiscal year, and the budget deficit is to be managed appropriately.
Therefore, the expenditure must be scrutinized properly.
The State will spend on ordinary expenditure including salary and expenses of civil servants, wages, maintenance, and social securities, and capital expenditure on a priority basis for economic development of the nation including infrastructure.
Therefore, expenditure for education and health sectors that will promote human resources, the sectors of agriculture, livestock and transport and communications, electricity and energy will be allowed on a priority basis.
Regarding consumption of fuel oil, fuel oil prices has risen around the world. As fuel oil is imported, fuel oil consumption is to be reduced to save spending of foreign exchange earnings and to avoid high spending. This fiscal year, scrutiny measures are to be taken to allow any consumption of fuel oil on administration front or operational front.
With regard to construction of new offices, staff housing, expenditure for them will not be allowed in the ordinary way but depending on regional situation and security situation. In respect of purchasing office equipment and furniture, luxury items are not allowed to buy but be allowed upon requirement for departments concerned and through scrutinizing the previous purchase.
At the meeting, according to current directives and duties assigned by the leaders concerned to be carried out compulsorily, matters to be submitted by some ministries will be openly discussed and coordinated.
It is learnt that when the Ministry of Planning and Finance is scrutinizing the Union budget, estimation by departments and organizations has been coordinated well. If the departments and organizations have to submit some adjustments over the estimates, it is to submit them to be discussed at this meeting. If the departments and organizations have matters to be truly carried out upon the operational requirements, they can proceed with submitting them to this meeting.
Afterwards, Union Minister U Win Shein briefed on the Union budget for the fiscal year of 2023-2024 submitted by Union level departments and organizations and Deputy Minister U Maung Maung Win the Union budget already scrutinized by the Ministry of Planning and Finance.
Then, Union Auditor-General U Tin Oo briefed on auditing measures on the Union budget.
Afterwards, officials of Union level organizations, union ministers and the Chairman of Nay Pyi Taw Council reported on budgets of departments and organizations concerned with the additional discussion by the Secretary of Financial Commission.
Later, the Vice-Senior General gave concluding remarks on the meeting.