Zarni Min Naing/MBT
The budget allocation for the 2016-17 fiscal year for Yangon region was presented at a special meeting of the Regional Parliament.
From 2011-12 to 2015-16, the budget allocation for regional government has only been presented after the Union Parliament had announced the national budget.
However, the Union Government informed the regional governments of their allocated budgets beforehand for the upcoming 2016-17 fiscal year, said Daw San San Nwe, finance minister of Yangon region government.
The total allocated budget is K336.218 billion ($257.4 million) for the 2016-17 fiscal year, she added.
K13.28 billion has been allocated for normal expenditure, K198.62 billion for capital expenditure and K7.3 billion for debt expenditure.
The 2016-17 budget includes K40.85 billion for budget deficit and K4.5 billion for a regional development plan.
In 2015-16 fiscal year Yangon region’s projected income from tax is K34.12 billion, while it earned K181.2 billion from normal income, K78.35 billion from capital receipts and K42.53 billion from debt income.
The Union Government will also disburse 15 percent of 2015-16’s export/import tax to Yangon region, worth K37.976 billion, for the next fiscal year.
From : Myanmar Business Today