After 11 days in session, the First Meeting of the 17th Legislative Council Session officially closed its curtains yesterday. The Bill to Supply A Collection of Monies From the Consolidated Fund For Financial Year 2021/2022 and to allocate the sum for specific purpose proposed by Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Second Minister of Finance and Economy was approved by the Legislative Council and is now known as the Supply Act 2021/2022. A total of $5.86 billion was allocated for the government budget for the Financial Year 2021/2022 which will take effect as of the 1st of April.
The National Budget Theme for the Financial Year 2021/2022 'Towards a Resilient Socio-economic Development', is drafted to further strengthen efforts towards achieving Wawasan Brunei 2035 which is Highly Educated, Skilled and Accomplished People; High Quality of Life; and Dynamic and Sustainable Economy. The theme focuses on the government's efforts to continuously strengthen the country's socio-economic sustainability through initiatives that can stimulate economic growth so that the well-being of the people is always assured. Efforts to enhance initiatives towards Digitalisation was also emphasised upon to act as preparation and platform for strengthening the country's digital economy towards the 4th Industrial Revolution.
Three foci that were given priority to uphold the Budget Theme for the Financial Year 2021/2022 which are Increasing National Productivity, Provision of Sustainable as well as Resilient Facilities and Infrastructure for the public's well-being and economic development and Generate Competent and Employable Human Resource.
It is hoped that all the issues and matters deliberated on during the First Meeting of the 17th Legislative Council Session can be successfully realised for the interest of people and country specifically in increasing the economy so that it is more dynamic and sustainable.
Source: Radio Television Brunei