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Estimated Expenditure for the 2018/2019 Financial Year
March 8th, 2018 | 11:22 AM | 356 views
BANDAR SERI BEGAWAN
An estimated 5 point 3 Billion dollars have been proposed for the government budget for the Financial Year 2018-2019. The proposal was presented at the First Meeting of the 14th Legislative Council Session which entered its third day yesterday. In deliberating the Bill which is an Act to supply a sum of money from the Consolidated Fund For Financial Year 2018/2019 and to allocate the sum for specific purposes, Yang Berhormat Dato Seri Paduka Doktor Awang Haji Mohd Amin Liew bin Abdullah, Second Minister of Finance said the current economic condition in the country and the world as well as challenges towards the national economy and today's uncertain world oil market situation, has directly impacted the country and government revenue.
Yang Berhormat said the estimated expenditure for the 2018/2019 Financial Year including an allocation of Consolidated Funds for Development proposed was five point 3 billion dollars. The estimated government revenue for the Financial Year 2018/2019 was proposed at 3 point 7-6 billion dollars, of which, revenue from oil and gas sector is estimated at some 2 point 8-4 billion dollars. Meanwhile for the non-oil and gas sector is estimated at 9 hundred and 21 point 5 million dollars. Therefore, the national budget for the Financial Year 2018/2019 is expected to continue to experience a deficit of some one point 5-4 billion dollars.
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