BANDAR SERI BEGAWAN – The Ministry of Finance and Economy on Sunday tabled a budget of $1.01 billion for the 2022/23 fiscal year, marking an eight percent increase of from the previous year.

Staff salaries account for $68.8 million of the budget while $931.28 million has been allocated for recurring expenditure.

This includes $121.8 million for defence and security, $30 million for medical services, and $15 million for disaster management.

A total of $124.5 million has also been allocated to address the ongoing pandemic as Brunei experiences a third wave of infections, as well as the procurement of more COVID-19 vaccines.

Second Minister of Finance and Economy, YB Dato Dr Hj Mohd Amin Liew Abdullah, added that $11.37 million has been set aside for the ministry’s development projects in the upcoming year, from a total planning cost of $295.22 million.

These projects include a merger of the Government Employee Management System (GEMS) and Treasury Accounting and Financial Information System (TAFIS), as well as scientific research, the population and housing census, and other socio-economic studies.

The minister did not go into further detail regarding MoFE’s proposed budget, noting that the country’s economic performance had already been discussed during the government budget readout.

“The ministry will continue to be committed in implementing and supporting efforts that will contribute to the country’s economic development,” he said.