Union ministers are expected to scrutinize expenditures as some state revenues may be reduced in the next six months, said Senior Lt-Gen Soe Win, Vice Chairman of the Finance Commission, Vice-Chairman of the State Administration Council (SAC) and Deputy Prime Minister.

He made the remarks at a coordination meeting on the submission of the union's budget for the six-month period from October 2021 to March 2022 held at the meeting hall of the Office of the Chairman of the SAC in Nay Pyi Taw on August 24.

At the meeting, the Senior Lt-Gen said in line with the Article 100 (b) of the Constitution, national plan, annual budget and tax bills are bills that must be enacted on a regular basis each year, in accordance with existing laws and regulations. Although the fiscal year was previously set from April 1 to March 31 every year, it was set from October 1 to September 30 starting from 2018-19 FY. So the budget for the six-month period from October 1, 2021 to March 31, 2022 will be revised as the period for 2022-23 FY is set from April 1 to March 31.

Work is underway to control the COVID-19 epidemic, which has caused some economic repercussions, and some state revenues, including state revenue and other ordinary revenues, are declining, and revenues are likely to continue to decline in the next six months. However, the union ministries are urged to scrutinize their expenditures as much as possible as the state must spend on COVID-19 prevention and control tasks. As the budget period is only six months, budgets should be realistic within six months and Expenditure budgets need to be budgeted for within six months, he said.

In addition, the Ministry of Planning and Finance has also adopted the policies and guidelines set by the State on the six-month budgets drawn up by the organizations and union level departments. In doing so, the responsibilities of the union should not be repeated by the regions and states, he said.