Total 22 government ministries allocated 10 percent of budgets for Myanmar’s COVID – 19 Economic Response Plan (CERP) fund

18 พฤษภาคม 2563

A total of 22 government ministries have submitted 10 percent of their allocated 2019-20 budgets to help fund Myanmar's COVID-19 Economic Response Plan (CERP) for cabinet approval, said Daw Thida Tun, director general of Budget Department, Ministry of Planning, Finance and Industry.

"We instructed the ministries to set aside 10pc for their budgets this fiscal year for the CERP. Some departments may submit less than 10pc as their funds are necessary for national development. For example, income tax revenues will not be approved for the fund," she said.

The funds allocated exclude local and foreign loans taken by each ministry, if any.

As the budget estimate for 2019-20 has already been approved in Parliament, the 10pc allocations do not need to be resubmitted for further approval.

The exact amount of funds surrendered by the ministries has not been announced so far. "We will allocate the funds under the CERP after the cabinet approves the allocations," she said.

The CERP, which was released on April 27, comprises 10 strategies and 36 action plans and includes support for small businesses, households, labourers, investors and e-commerce. Based on government estimates, at least US$2 billion in funds will be needed to implement the plan.

To raise the funds required, Myanmar will raise a combination of public finances, Central Bank finances and international aid.

The 22 ministries that have to return 10pc out of their budget towards the CERP are:

1. Ministry of Foreign Affairs,

2. Ministry of Home Affairs,

3. Ministry of Defence,

4. Ministry of Border Affairs,

5. The State Counsellor Office,

6. Ministry of Information,

7. Ministry of the Office of the Union Government,

8. Ministry of Religious Affairs and Culture,

9. Ministry of Agriculture, Livestock and Irrigation,

10. Ministry of Transport and Communications,