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.
Defense Minister Lieutenant General Wai Lwin made the proposal at the 9th regular session of the country’s two-House Union Parliament in Nay Pyi Taw, according to the Myanmar Freedom Daily.
The proposed military expenditure will account for 12.26 percent of the total national budget in 2014-15, a drop 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 House discussing state budget bill for 2014-15 fiscal year and other important laws.
It also discussed national planning bill (2014-15), a number of taxation bills, media law in dispute and special economic zone bill.-VNA
