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Gov't Finalizes Guidelines on Budget Compilation for Next Year

Written: 2018-03-26 10:14:12Updated: 2018-03-26 14:57:32

Gov't Finalizes Guidelines on Budget Compilation for Next Year

The government plans to spend more budget next year than pre-set levels to ensure the people can actually feel improvements in the quality of their lives.  

The government held a Cabinet meeting on Monday and passed guidelines on budget compilation and state fund operations for next year.

Under the guidelines, the government will increase its total expenditures more than five-point-seven percent next year, which is the annual budget increase rate set in the government's mid-term fiscal plan. 

The government's 2019 budget plan will focus on youth employment, low birthrate and ageing population, innovation and growth, and safety to tackle structural factors of demographic changes and low growth. 

The guidelines will be notified to each ministry by Friday, which should present its budget demand to the Finance Ministry by May 25th. The Finance Ministry will compile a budget plan for next year and submit it to the National Assembly by September second.

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