Home Local News 2022 BUDGET EXPENDITURE ESTIMATED AT $4.531 BILLION

2022 BUDGET EXPENDITURE ESTIMATED AT $4.531 BILLION

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kuma today
Minister Kuma.

The government’s total Budget expenditures for 2022 is $4.531 billion. Of this amount, the total recurrent budget is estimated at $3.050 billion. This consists of payroll budget of $1.363 billion, $1.666 billion for Other Charges, and $20 million in Contingency Warrants.

This figures were announced by the Minister of Finance and Treasury. Harry Kuma when tabling the 2022 Appropriation Bill in Parliament Thursday last week.

Kuma said the 2022 budget is a very tight budget and the government will need to realistically plan and prioritise its activities in order to achieve tangible outcomes within the 2022 financial year and avoid any commitments that will further derail government’s fiscal situation.

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In this regard, the government has taken a drastic decision to reduce the overall SIG expenditure within the SIG revenue estimates in order to maintain fiscal stability and affordability of the government fiscal plan in 2022.

This is to ensure funding is always readily available to pay all government suppliers on time.

Meanwhile, the total expenditure for development initiatves is $870.9 million including $20 million development support from the Peoples Republic of China (PRC).

The productive and resource sectors remains the priority of the government as they are potential drivers and enablers of growth.

The 2022 development budget allocation comprises of $541.8 million or 62 percent towards both the productive and resource sectors. Social sector is $179.8 million or 21 percent, and $149.3 million or 17 percent to the fundamental sector.

The DCGA in the 2022 Budget has refocused its key policy commitments towards three key priority areas including the COVID 19 response to effectively control and manage COVID19 transmission in Honiara and provinces, Reconstruction of buildings destroyed during the recent civil unrest including support to affected businesses and Implementation of economic response measures to support economic recovery and growth.

The government has committed $180.6 million under respective implementing ministries to support response to COVID-19 community transmission in Honiara and provinces.

This is an ongoing support towards the roll out of COVID -19 vaccination, improve medical infrastructure and quarantine sites to contain threat in communities, improving resourcing and capacity of frontline personnel to respond effectively to curb community transmission.

ENDS///

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