Friday, 22 March 2013 12:14 Mizzima News
Myanmar's parliament on Thursday approved the amended budget for the 2013-14 fiscal year that had been put forward by the Financial Commission.
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| Parliament session on March 21 (PHOTO: NLD via Facebook) |
President Thein Sein had previously urged Members of Parliament to pass the budget, which was revised in accordance with the amended National Planning Bill.
The budget includes a deficit of 2,926.898 billion kyat (US $3.4 billion), and salary increases for government staff.
“In the 2013-14 fiscal year, the monthly salaries of civil servants will be increased by 20,000 kyat [US $23]. Monthly pensions and bonuses will be increased proportionately along with the salaries,” said Minister Win Shein last week.
In January, the Ministry of Finance and Revenue announced that the budget deficit had fallen to 3.2 percent for 2012-2013. This is a drop from 4.9 percent in the previous fiscal year.
The Ministry of Defense's budget provision of more than US $2.6 billion for the fiscal year of 2013-14, or a fifth of Myanmar's national budget, was controversially approved at Parliament on March 1.
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