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Myanmar’s defense budget cut proposed

Myanmar’s Defence Ministry has proposed a cut of the defense budget to 2.36 trillion Kyats (2.3 billion USD) for the 2014-15 fiscal year.

Myanmar’s DefenceMinistry has proposed a cut of the defense budget to 2.36 trillion Kyats(2.3 billion USD) for the 2014-15 fiscal year.

Defense MinisterLieutenant General Wai Lwin made the proposal at the 9th regular sessionof the country’s two-House Union Parliament in Nay Pyi Taw, accordingto the Myanmar Freedom Daily.

The proposed military expenditurewill account for 12.26 percent of the total national budget in 2014-15, adrop from 13.6 percent in the 2013-14 fiscal year.

Myanmar gained revenue of more than 16 billion USD in 2013.

The Parliament’s session started on January 13 with the Lower Housediscussing state budget bill for 2014-15 fiscal year and other importantlaws.

It also discussed national planning bill(2014-15), a number of taxation bills, media law in dispute and specialeconomic zone bill.-VNA

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