The Legislative Council (LegCo) unanimously passed the proposed Supply Bill of BND6.3 billion for the 2026/2027 financial year on the 10th day of the First Meeting of the 22nd Session of the LegCo yesterday.

According to the tabled Supply Bill 2026/2027 on the third day of the First Meeting of the 22nd Session of the LegCo, BND2.31 billion – which represents 36.7 per cent of the total allocation – will be used to finance emoluments, including salary payments, service benefits, other facilities, and employer contributions, while BND2.45 billion – representing 38.8 per cent of the total allocation – will be used to finance the recurring expenditure of ministries and government departments, and BND480 million will be used to finance development projects under the 12th National Development Plan (RKN 12), with a total plan value of BND4 million. The remaining amount will be used to finance expenditure under charged expenditure.

The fiscal position of the government, following the closure of the accounts for 2024/2025 financial year, recorded revenue collection of BND3.53 billion, a decrease of 4.4 per cent compared to BND3.69 billion in the 2023/2024 financial year.

In terms of expenditure, the government recorded an increase of 2.2 per cent, amounting to BND6.25 billion, compared to BND6.11 billion in the 2023/2024 financial year.

As a result, in the 2024/2025 financial year, the government recorded a budget deficit of BND2.72 billion.

The theme for the budget over the next five years, starting from the 2026/2027 financial year until 2030/2031, is ‘TOGETHER ACHIEVING WAWASAN BRUNEI 2035’.

The theme, set for the upcoming five-year period, represents the decisive phase of the final decade that will shape the country’s direction towards achieving Brunei Vision 2035.

During this five-year period, every fiscal decision and investment must serve as a catalyst for the nation’s development momentum.

Therefore, this year’s budget calls for strategic investments that drive transformation, innovation and high-impact results, alongside an emphasis on financial discipline.

The LegCo also approved the development fund of BND480,000,000 for the 2026/2027 financial year to drive the progress of both ongoing and upcoming projects more efficiently and quickly, showing significant improvements in the future.

(news source: Borneo Bulletin; pic source: Info Foto, Jabatan Penerangan)