A coordination meeting to submit supplemental budget accounts of the Union for financial year 2023-2024 was held at the State Administration Council Chairman’s Office in Nay Pyi Taw on 30 November. The Vice- Chairman of the State Administration Council Deputy Prime Minister Vice-Senior General Soe Win, in his capacity as the Vice-Chairman of the Financial Commission, delivered a speech as follows:
- The government is implementing the Union Budget Law for 2023-2024 FY which was approved and enacted on 31 March 2023.
- There may also be expenditures included in the law and mandatory additional expenditures. The approval for 2023-2024 FY supplemental budget must be passed through different steps of verification and the requested departments and organizations shall use the funds only after the SAC has promulgated the additional budget allotment law.
- The government is properly approving the expenditures for disaster damages including rehabilitation funds for the losses caused by Mocha cyclone that hit the country on 14 May 2023 in time.
- It also permitted the dutiful civil servants to enjoy additional allowance starting from October 2023 to help ease their basic needs.
- In the state of the Union budget for the fiscal year of 2023- 2024 and the original estimated budget, the GDP value of the whole country is K138,195.703 billion.
- Regarding the surplus and deficit comparison on the ordinary capital liabilities, the comparison of the deficit with the GDP was found to be 5.65 percent in terms of amount. When this was checked by the relevant scrutiny teams at different levels, finally, it was found that there was no change in GDP, but the ratio of deficit to GDP was reduced from 5.65 to 5.31 percent.
- If there are any further reports to be presented regarding the information verified step by step by the Ministry-wise Committees, it is to present them at today’s meeting and if there is any amount of expenditure that can be reduced, it is to continue to present it.
Then, the relevant officials from the Union-level organizations and Union Ministries had sector-wise discussions and the Secretary of the Financial Commission joined the discussions. Later, the SAC Vice-Chairman Deputy Prime Minister Vice-Senior General Soe Win made coordination on the discussions and gave concluding remarks.
Also present were SAC member Lt-Gen Nyo Saw, Union Minister U Win Shein, Union Auditor-General Dr. Khin Naing Oo and officials. Union-level officials, Union ministers, Deputy Ministers and officials attended the meeting through videoconferencing.
Source: Global News Light of Myanmar (1-12-2023)
- There may also be expenditures included in the law and mandatory additional expenditures. The approval for FY 2023-2024 supplemental budget must be passed through different steps of verification and the requested departments and organizations shall use the funds only after the SAC has promulgated the additional budget allotment law.
- It also permitted the dutiful civil servants to enjoy additional allowance starting from October 2023 to help ease their basic needs.