BANDAR SERI BEGAWAN
THE Minister of Finance II proposed a state budget of $5.3 billion for the 2018/2019 fiscal year at yesterday’s session of the 14th Legislative Council meeting
Yang Berhormat Dato Seri Paduka Dr Hj Mohd Amin Liew Abdullah yesterday said the theme for the 2018/2019 Financial Year budget proposal was ‘Productive and Innovative Expenditure to Maintain the Country’s Prosperity’.
He pointed out that the main focus of government expenditure for 2018/2019 fiscal year:
- Prudent spending
- Establishing job opportunities and capacity building
- Increasing national productivity through innovation
- Facilitating business
- Maintaining public well-being
Brunei, said the Minister, is also projected to experience a deficit of $1.54 billion, a much lesser figure than the $2.6 billion it saw throughout 2016/2017.
“The country however, will continue to record a deficit, but it will be lesser due to the projected improvements of the global oil price but its movement is unpredictable as there are factors that can easily affect the fluctuating price”.