Written by Admin on October 9, 2013. Posted in News, Top Stories
The Myanmar government cut the deposit by K 39 billion in its revised
budget for 2013-2014 fiscal year while introducing the increases in
both government spending and income, according to president Thein
Sein.
He made the comment in a meeting of the Financial Commission
responsible for assessing and confirming the budget drafted by the
Finance Ministry.
The additional expenditures, the revised budget and the Union
Additional Expenditure Bill for 2013-2014 fiscal year were confirmed
at the meeting.
"A total of K 538.881 billion has been cut from the original budget of
K 1932.997 billion. There was an increase of K 654.91 billion in
income and K 560.891 billion in spending," the reformist president
said, according to the state media.
He admitted that his government has no enough financial resources to
make investments, stressing the need to seek foreign investments,
loans and aids.
He said the government is committed to ensure the balance budget.
"The government is hoping the budget would one day become a balance
budget and surplus budget," said the president.
photo ref: president-office.gov.mm
Source: http://www.news.myanmaronlinecentre.com/2013/10/10/government-cuts-deposit-increases-spending/
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