Pyidaungsu Hluttaw discusses supplementary budget for 2014-2015 fiscal year

Secretary of Bill Committee U Saw Hla Tun.—mna
Secretary of Bill Committee U Saw Hla Tun.
Union Minister  for Finance  U Win Shein.
Union Minister for Finance U Win Shein.

Pyidaungsu Hluttaw convened on Monday for its 15th day with the discussion of supplementary budget allocation bill for 2014-2015 fiscal year.
On behalf of union government, Union Minister U Win Shein submitted the bill to the Pyidaungsu Hluttaw and discussed supplementary budget when there is not enough funds for projects or necessary expenses which are not included in original budgets.
Union level departments has asked the supplementary budget of K2032.647 billion, while the state/region level departments K202.817 billion.
While the estimated ratio of budget deficit to GDP was 4.16 percent, the actual figure shows at 3.90 percent.
The state/region governments have received K1421.737 billion, and they will need additional
K 102.654 billion.
The mid-term financial framework is designed with the calculation of real GDP rate, normal GDP rate, inflation, foreign exchange rate and increasing volume of import. And the framework includes estimation of budget in the next three years and budget allocation to make effective implementation of state projects.
Budgets for three fiscal years up to 2018 have been preliminarily fixed and being prepared to submit to the Union government.
U Saw Hla Tun, Secretary of Bill Committee, presented the findings and comments of his committee on the bill.
Then, parliamentarians discussed paragraphs of the bill which amends the law on constitutional court sent by the President before receiving the decision of Hluttaw.
They also discussed the paragraphs of electricity bill sent by the comments of the President.–MNA

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