Budget bill proposes $3b deficit
The current government headed by President U Thein Sein has proposed a K24 trillion (US$18.4 billion) budget for the incoming government, including a K3.9 trillion deficit – more than $3 billion at current exchange rates. The draft was submitted to the Pyidaungsu Hluttaw on 22 December, with MPs expected to finalise the budget bill by the end of next month.
The biggest share appears to be earmarked for the Ministry of Finance, while education and health spending will both get increases over the last budget, which was approved by the parliament in April after much debate and redrafting.
