Vice-Chairman of State Administration Council Deputy Prime Minister Vice-Senior General Soe Win Addresses the Coordination Meetings on Submission of the Union and Regions/States Budgets for the 2022-2023 Financial Year

The coordination meetings on submission of the Union budget for the 2022-2023 FY and Regions/States budgets for the 2022-2023 FY were held at Nay Pyi Taw on 4 March. Vice-Chairman of the Financial Commission Vice-Chairman of the State Administration Council (SAC) Deputy Prime Minister Vice-Senior General Soe Win delivered an address at the coordination meetings.

          During the coordination meeting on submission of the Union budget for the 2022-2023 FY, the Vice-Chairman of the SAC Deputy Prime Minister stressed the following points:

• The global countries are facing the economic downtrend, declining prices of general commodities, world gold prices, oil price and fluctuation of currencies in power struggles of powerful countries and outbreak of COVID-19 pandemic.
• Countries like Myanmar are also experiencing its repercussions.Tax relaxations and financial support programs have been carried out to overcome the challenges and hardships and as a way to assist the economy.
• The budget for the financial year 2022-2023 has been reduced and the expenditure allocation is based on income. 
• Regarding the fuel oil, the State arranges to reduce the expenditure for lesser spending of foreign exchange as fuel is imported abroad.
• Fuel for vehicles which were permitted under the law, of Union level persons and region and state-level persons were also cut as of April 2022based on the State income and economy.
• The State prioritized budget allocation for transportation sectors, electrification, transportation and communication, agricultural and livestock sectors and human resources development which are the main sectors of the development of the State economy.
• Moreover, the expenditures for projects to be implemented with the actual foreign assistance and loans in the 2022-2023 FY have been proposed.
• The budgets for 2022-2023 FY which have been discussed with union-level bodies and organizations will be submitted to the Financial Affairs Commission in accordance with the constitution.
• Continuously, the budget proposals will be submitted to the State Administration Council with the approval of the Financial Affairs Commission.Then, the budget law for 2022-2023 FYwill be enacted.
• It is necessary for union-level bodies and organizations to implement projects successfully by spending the 2022-2023 budgets in accordance with the policies of the state, five-point roadmap and nine objectives in respective sectors.

During the coordination meeting on submission of the Regions/States budgets for the 2022-2023 FY, the Vice-Chairman of the SAC Deputy Prime Minister stressed the following points:

• The financial year 2022-2023 is the first financial year of the State after reforming the financial year.
• It can be seen that the income of the State in all aspects may lessen due to outbreak of COVID- 19 pandemic and changes of world’s political landscape.Hence, the Union provided 88 percent of monetary assistance to regions and states, lessening 12 percent of monetary assistance than 2020-2021 FY.
• The FY2022-2023 is to encourage the resurge ofthe State economy. And, the ordinary expenditure related to the administrative measures such as salaries for service personnel, fuel costs, and maintenance charges must be scrutinized thriftily while prioritizing the cost for manufacturing to increase the GDP and expenditures for regional development.
• It is necessary to exactly follow the financial rules and disciplines in spending money. Records and accounts of spending must be kept ready for audit.
• The respective regions and states need to fully collect revenues and other normal earnings as targeted.  
• Those regions and states need to provide necessary assistance to national projects in the sectors of agricultural and livestock, export and foreign service, extended export items, fish and meat, forestry and industry in GDP.
• For increased GDP in the regions and states, improvement of socio-economy of the people and regional development, measures must be taken in accord with the guidance of the Head of State.

The meetings were attended by Union Minister for Planning and Finance U Win Shein, Auditor-General of the Union Dr KanZaw, Deputy Minister U Maung Maung Win and officials. Moreover, the officials of Union level departments and organizations, Chief Ministers of region and state joined the events through video conferencing.

• The budget for the financial year 2022-2023 has been reduced and the expenditure allocation is based on income. 
• The State prioritized budget allocation for transportation sectors, electrification, transportation and communication, agricultural and livestock sectors and human resources development which are the main sectors of the development of the State economy.
• Moreover, the expenditures for projects to be implemented with the actual foreign assistance and loans in the 2022-2023 FY have been proposed.
• The FY 2022-2023 is to encourage the resurge of the State economy. And, the ordinary expenditure related to the administrative measures such as salaries for service personnel, fuel costs, and maintenance charges must be scrutinized thriftily while prioritizing the cost for manufacturing to increase the GDP and expenditures for regional development.
• It is necessary to exactly follow the financial rules and disciplines in spending money. Records and accounts of spending must be kept ready for audit.
• For increased GDP in the regions and states, improvement of socio-economy of the people and regional development, measures must be taken in accord with the guidance of the Head of State.