Izzati Jalil and Waqiuddin Rajak
BANDAR SERI BEGAWAN
THE Legislative Council (LegCo) Speaker expects parliament members to take “bold steps” in government spending amid weak global oil prices and a $2 billion budget deficit.
Speaking to reporters, Yang Berhormat Pehin Orang Kaya Seri Lela Dato Seri Setia Hj Abdul Rahman Dato Setia Hj Mohamed Taib hinted at more budget cuts, saying that the country cannot continue to spend without earning.
Asked whether Brunei can expect budget cuts for the 2016/2017 financial year, the Speaker said, “It is quite obvious isn’t it? You have to spend on what you can earn. You have to cut your shirt according to the cloth you have.”
“Last year we spent a lot of money on education. This year I don’t really know what the emphasis would be. I would have thought that there will be some bold steps here,” he said on the sidelines of the opening of the 12th LegCo session yesterday.
It was previously projected that the Brunei government would run into a $2.28 billion deficit in the 2015/2016 fiscal year.
The government has already hit over $1.6 billion in deficit as of December 2015, Second Finance Minister Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Hj Abdul Rahman Hj Ibrahim had said in January this year. The proposed government budget for 2016/2017 financial year is expected to be unveiled early next week. The LegCo Speaker further said national strategies to tackle the current economic problems need to be focused during this year’s proceedings.
Meanwhile, Minister of Communications Yang Berhormat Dato Paduka Hj Mustappa Hj Sirat said mobility is important to the economy as it would open up an “economic space” for the people, employment opportunities and marketability of products in the country.
“It is also the source for our economic dynamism, and mobility of the people itself is the basis to Brunei’s economic resilience and competitiveness,” he said in an interview.
He said the Ministry of Communications’ role is to ensure the smooth movement of people, goods and services, which requires improvements in public transportation.
“The same also goes to the fields of information and communications technology (ICT) and the post office, that the communication between people to people could be closer. The main emphasis here would be connectivity, reliability and mobility,” he continued.
The minister also stressed the importance of government policies becoming more “pro-business”, moving from being regulatory to facilitative, to bolster economic growth. “We should also be creative and consider the Brunei market and how it could be expanded from the non-oil and gas sectors,” he added.
Reacting to His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam’s titah, the Minister of Culture, Youth and Sports said Brunei must move forward and work together in times of economic slowdown.
Yang Berhormat Pehin Datu Lailaraja Major General (Rtd) Dato Paduka Seri Hj Awang Halbi Hj Mohd Yusof said a “team effort” is needed to inject life into Brunei’s economy.
LegCo member Yang Berhormat Hj Mohd Shafiee Ahmad, who is also the village head for Lumut 1, said he agreed with His Majesty’s titah in shouldering responsibilities accordingly. “We feel the pinch as a result of our economy slowdown at the moment,” he said, adding that there is a need to work together to support the government on how to increase the country’s revenues.
Sumber - The Brunei Times
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