Budget Theme 2021/2022: Towards A Resilient Socioeconomic Development

A sum of $5.86 billion has been proposed for the Financial Year 2021/2022 budget allocation. In deliberating on the Bill called An Act to Supply A Collection of Monies From the Consolidated Fund For Financial Year 2021 / 2022 and to allocate the sum for specific purpose, Yang Berhormat Dato Seri Setia Doctor Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Second Minister of Finance and Economy explained the theme for Financial Year 2021-2022 which is 'Towards a Resilient Socioeconomic Development'.

Yang Berhormat said the theme is designed to further strengthen efforts to achieve the Wawasan Brunei 2035 namely Highly Educated, Skilled and Accomplished People; High Quality of Life; and Dynamic and Sustainable Economy. The theme is also a continuation of the previous the previous budget theme 'Investing in Our Future'.

Despite challenges on the government's fiscal sustainability, Yang Berhormat said it is important for the government to continue efforts in strengthening the country's socio-economic sustainability. Therefore, the provided budget must focus on initiatives and activities that can stimulate economic growth to ensure that the citizen's well-being are always secured.

Apart from that, Yang Berhormat stated emphasis must be given on efforts to improve initiatives towards digitalisation. This is a preparation and platform to strengthen the country's digital economy towards the Fourth Industrial Revolution.

Hence, in the government's efforts to further enhance the country's socio-economic sustainability, a number of initiatives have and will be arranged to align policies and strategies towards achieving the aspirations of Wawasan Brunei 2035. This includes preparing the Brunei Darussalam Economic Blueprint towards Dynamic Sustainable Economy, Digital Economy Masterplan, ' Sistem Kebajikan Negara', Green Protocol Policy, the Brunei Darussalam National Climate Change Policy and the National Youth Policy and Strategy 2020-2035.

Source: Radio Television Brunei