The council approved the allocation for the Ministry of Defence before adjourning the session yesterday morning. The afternoon session started with the presentation on the budget proposal for the Ministry of Finance and Economy. Yang Berhormat Dato Seri Setia Doctor Awang Haji Mohd. Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Second Minister of Finance and Economy explained that the allocation provided will enable the Ministry of Finance and Economy to implement initiatives which upholds the four aspirations of the ministry's strategic plan.
Yang Berhormat said the first aspiration is Development and Economic Diversity; Second, Maintaining fiscal sustainability through the efficient use of government budget allocation; Third, Involvement and Effective Cooperation with stakeholders and fourth, Excellent service delivery. Strengthening of the government's fiscal will remain the Ministry of Finance and Economy's priority through a policy of prudence in managing the country's budget and finance via fiscal consolidation and also expanding the country's basic income aside from improving annual revenue for every ministry. However, a balanced approach need to be taken so that the government's efforts to diversify economic activities and strengthen the private sector will not obstructed.
Source: Radio Television Brunei