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National Budget of $5.3 Billion for 2017-2018 Approved
Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Haji Ibrahim, Minister at the Prime Minister's Office and Second Minister of Finance | PHOTO COURTESY: Mohd. Zul-Izzi Haji Duraman, Muhammad Asri Haji Awang Abas
March 21st, 2017 | 07:05 AM | 1087 views
Bandar Seri Begawan
The First Meeting of the 13th Legislative Council session ended yesterday with the council unanimously approving a National Budget allocation of 5 thousand and 3 hundred million dollars or 5.3 billion dollars for the 2017-2018 financial years, which will take effect on the 1st of April this year. The Legislative Council approved the national budget after deliberating for 11 days.
The national budget allocation proposed by Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Haji Ibrahim, Minister at the Prime Minister's Office and Second Minister of Finance was approved during yesterday morning's session. The Bill to supply the sum from the Collection of Monies of the Consolidated Fund for the service of Financial Year 2017-2018 and to allocate the money for specific purposes is now known as the Supply Act 2017-2018. A certain amount of the allocation will be utilised for the financial service and specific purposes of the 12 ministries and their departments for the Financial Year 2017/2018 and a sum of 1 thousand million dollars is allocated for development.
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