Planning implementation

Today the finance minister presented the National Budget bill for the year 2009 – 2010. I’ll post a few entries on the status of our kingdom’s finances in the next couple of days.

Following the Finance Minister’s presentation, the National Assembly discussed the first part of the report, the annual financial statement for the financial year 2007 – 08. The budget for that year was prepared by the previous government. And, most of it was implemented by the interim government. The current government was in office for the final three months of that financial year.

The total approved outlay for 2007 – 08 was Nu 23,051.839 million. But, the actual outcome was only Nu 17,913.359 million. That’s a decrease of Nu 5,138.480 million between the estimated and actual outlays for that financial year. And, that works out to a decrease of about 22% of the approved outlays for that year.

The huge discrepancy between the estimated and actual budget figures can mean that the planning was poor, or that the implementation was poor. Or, that both, planning and implementation, were poor.

Whatever the case, we have underperformed: our farmers lost out; our economy lost out; and our job seekers lost out.