Presenting the development budget for the National Development Plan, NDP for the Financial Year 2018/2019 amounting to 900 million dollars, the Second Minister of Finance stated that the allocations are used to finance 182 projects. Yang Berhormat explained that the selection of projects and decisions for allocations need to firstly be put forward by the Ministries to the Wawasan leaders to ensure projects under the National Development Plan are truly relevant in achieving Wawasan Brunei 2035 objectives and can support the budget theme for the Financial Year 2018/2019 which is 'Productive and Innovative Expenditure to Maintain the Country's Prosperity'. Yang Berhormat added that the effectiveness of each project will be measured through its contributions to National Outcomes. Aside from sharing the project achievements under the 10th NDP, the Second Minister of Finance also touched on the distribution of allocations under the 11th NDP.

Touching on the project achievements under the 10th NDP, Yang Berhormat said that out of the 568 approved projects, 454 projects or 79.9 percent of all projects have been completed; 43 projects or 7.6 percent are in the implementation stage; 37 projects or 6.5 percent are in the tendering stage; and 34 projects or 6 percent are in the design and planning stage. The Second Minister of Finance went on to say that that the distribution of allocations under the National Development Plan for the Financial Year 2018/2019, among others, takes into account the commitment of completed projects which still have responsibilities, projects which are under implementation, and the ability of a Ministry to implement the planned projects. The estimated development spending under the National Development Plan for the Financial Year 2018/2019 has been proposed at 900 million dollars, where the allocations provided are to finance 182 projects, of which 151 are new projects and 31 are delayed projects from the 10th NDP. These are broken down as follows: Completed projects have been provided 64 million dollars or 7.1 percent; Projects still under implementation - 713.9 million dollars or 79.3 percent; and Projects under the tendering, design and planning stages - 122.08 million dollars or 13.6 percent.

Sharing the distribution of allocations according to several main sectors, Yang Berhormat said the Transport and Communications Sector has been provided the largest allocation at 63.8 percent; Public Use Sector - 9 percent; Miscellaneous Sector - 7.1 percent; Industry and Trade Sector - 6.9 percent; Human Capital Development Sector - 5.6 percent; Social Services Sector - 4.6 percent; Public Building Sector - 1 percent; Science and Technology, Research and Development and Innovation Sectors - 0.8 percent; Information Technology and Info-Communications Sector - 0.7 percent; and the Security Sector - 0.5 percent. Yang Berhormat also shared that up until the 15th of March 2018, the actual NDP expenditure for the Financial Year 2017/2018 amounted to 792.65 million dollars, which accounted for 79.2 percent of the actual 1-billion-dollar allocation provided, bringing the total of the 10th NDP expenditure to 6 thousand 2 hundred and 9 point 27 million dollars.

Source:
@BRUDIRECT.COM

by BruDirect.com

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