A plan has been set to achieve K171,498 billion of GDP with a three per cent eco­nomic development rate in the 2025-26 financial year.

SENIOR General Min Aung Hlaing underscored that it is necessary to manage deficit and GDP radio in the appropriate amount to ensure stabil­ity of the macroeconomy and the State’s long-term economic development.

Chairman of the State Administra­tion Council Prime Minister Senior Gen­eral Min Aung Hlaing, who is also in the capacity of Chairman of the Financial Commission, delivered a speech at the meeting of the Financial Commission at the SAC Chairman’s Office in Nay Pyi Taw yesterday afternoon.

At the meeting, the Senior General said that the meeting aims to discuss and approve the budget of the Union and the Union Budget Bill drafted for the 2025-26 financial year. Ministries, Nay Pyi Taw Council, regions and states have to spend the prioritized expendi­ture for relevant sectors and regions to implement three economic objectives of the State.

He continued that departments and organizations prioritize spending of the State fund on infrastructural roads and bridges, supply of electricity, transport, export promotion, import substitute, and job creation which can directly contrib­ute to the development of the country.

Concerning implementation against the targets in relevant financial years, the Senior General highlighted that the State managed 71.78 per cent of incomes and 77.06 per cent of spending in 2020-2021 FY, 96.10 per cent of incomes and 84.25 per cent of spending in the six months from October 2021 to March 2022, 104.96 per cent of incomes and 90.78 per cent of spending in 2022-23 FY, 97.03 per cent of incomes and 89.32 per cent of spending in 2023-24 FY, and 71.11 per cent of incomes and 59.55 per cent of spending till January of 2024-25 FY.

ganizations to strive to exceed the income target in the finan­cial year. The allocated funds must be scrutinized and spent efficiently for the State during the set period. Only when they implement the projects directly benefiting the people during the set period will the State have socioeconomic development.

He noted that it is necessary to manage deficit and GDP ra­dio in the appropriate amount to ensure the stability of the mac­roeconomy and the State’s long-term economic development. A plan has been set to achieve K171,498 billion of GDP with a three per cent economic devel­opment rate in the 2025-26 FY.

The Vice-Chairman of the Financial Commission Deputy Prime Minister said that it has been reviewed and planned to obtain the full receipt of entitled revenues, the implementation of tax rates that align with the current era, the complete col­lection of allocated funds, the recovery of outstanding debts from previous years, and the ac­quisition of feasible foreign loans and international aid.

He added that for emer­gency funds related to natural disaster prevention, rescue, and rehabilitation, as well as the live­lihood and administrative affairs of displaced persons, a total of K215 billion has been allocat­ed: K200 billion from the Union budget and K15 billion from re­gional and state budgets, includ­ing Nay Pyi Taw Council.

He recounted that the Fi­nancial Commission has re­viewed and approved the Un­ion’s budget bill for the 2025-2026 financial year, including financial allocations to regions and states. Based on these estimates, the Union Budget bill has been prepared and submitted for ap­proval.

Secretary of the commission Union Minister U Win Shein re­ported on the Union budget for 2025-26 FY and the Union Budget Bill for 2025-26 FY.

Union Minister for Legal Affairs and Attorney-General of the Union Dr Thida Oo dis­cussed legal recommendations for the bills whereas Union Au­ditor-General Dr Khin Naing Oo talked about the findings of the budget and recommendations.

The Nay Pyi Taw Council chairman and chief ministers of regions and states participated in the discussions.

In his response, the Senior General said that budget allo­cations were raised for home affairs, defence, health and ed­ucation sectors. The funds must be spent on relevant sectors ben­efiting the State and the people. The budget was allocated to en­hance the capacity and power of the defence forces similar to the international arena.

The Senior General called for the implementation of gener­ating electricity from solar pow­er. Businesspersons have also to generate electricity as much as possible to meet the demand for electricity in the nation.

In his concluding remarks, the Senior General highlighted that the budget for the 2025-26 FY allows stipends for students and allowance for degrees of teachers in the education sector.

Moreover, he underlined that the budget comprises neces­sary expenditures for the estab­lishment of more agriculture and veterinary science universities, construction of recreation cen­tres of universities, implemen­tation of solar-powered water pumping projects and enhance­ment of the socioeconomy. More­over, the budget will be allocated for the construction of roads and bridges, and electrification pro­jects.

The Senior General urged ministries and regional and state governments to strive to fully levy revenue under the existing laws.

Also, present at the meeting were Commission Vice-Chair­man SAC Vice-Chairman Dep­uty Prime Minister Vice-Senior General Soe Win, Secretary of the Commission Union Minister for Planning and Finance U Win Shein, Union ministers, the Audi­tor-General of the Union, deputy ministers, and the chairman of Nay Pyi Taw Council together with chief ministers of regions and states through a videocon­ferencing. — MNA/TTA