BND5.86B budget proposed

The Ministry of Finance and Economy (MoFE) on Saturday announced a proposed government budget of BND5.86 billion for the 2019/2020 fiscal year while forecasting another wave of budget deficit of BND1.5 billion for the new fiscal year, on the back of sluggish gross domestic product (GDP) growth due to falling revenues in the dominant oil and gas sector over the last few years. More details in Sunday’s Borneo Bulletin