BANDAR SERI BEGAWAN – The Ministry of Finance and Economy has tabled a budget of $1.01 billion for the 2023/24 fiscal year, the same allocation it received last year.
From the proposed budget, $215 million has been set for the ministry’s operations, which includes $61.8 million for staff salaries and $153.1 million for recurring expenditure.
The remaining $799 million will be used across all government ministries and departments.
Second Minister of Finance and Economy, Dato Dr Hj Mohd Amin Liew Abdullah, said the allocation would be used to support the ministry’s four aspirations: economic diversification, maintaining fiscal sustainability, effective cooperation among stakeholders, and excellent service delivery.
The minister did not give a detailed budget breakdown but did highlight some key allocations:
• $264 million for development projects, including the establishment of Brunei’s stock exchange, the expansion of Pulau Muara Besar, and the National Business Services Platform.
• $50 million for infectious disease control.
• $25 million for natural disaster management.
• $28.7 million for educational allowances, including $1.9 million for special needs’ education allowances.
• $10 million for the repair and replacement of airconditioners and chillers across all ministries.
• $2 million for repairs and upgrades to 31 mosques and prayer halls (from a total planning cost of $7.5 million).
• $9.5 million for asset maintenance.
• $3.3 million for renovation and repair works at Brunei Hall’s women’s hostel in London.
• $1.17 million for censuses and surveys carried put by the Department of Economic Planning and Statistics.
• $630,000 for repairs and upgrading of equipment at the International Convention Centre.