2022 National Budget

Growth Expected In Non-Resource Sector

Treasurer Ian Ling-Stuckey in his budget speech said the growth in the non-resource sector is expected to increase in real terms by 3.5 per cent in 2022.

This is attributed to growth in the AFF sector supported by the strong growth in the BLS sector as the resumption of both the Porgera and Simberi gold mines is anticipated to have spill-over benefits to most of the BLS sectors.

Gov’t Delivers Whooping K22b Budget

Treasurer, Ian Ling-Stuckey during the Budget Lockup yesterday, Thursday 25th November delivered the 2022 Budget with a surplus of K146m from the previous year’s Supplementary Budget which is 9.3 percent higher.

The Revenue Envelope of the 2022 money plan is K16,190.2 million, 18.4 per cent higher than 2021 Supplementary Budget. 

Fiscal Deficit of K5984.7 million for 2022, 5.9 per cent of 2022 GDP. 

Also included is the K600 million for the 2022 National General Elections, the K190 million super tax, and a fiscal deficit of K6billion. 

2022 Budget Focuses On Health

It is estimated that 6000 extra nurses from the Catholic and Church Health Service system will be added onto the Alesco payroll giving them more certainty and higher levels of pay.

The education sector has also increased from K1095 million to K1470 million, an increase of 34 percent.

This includes K632 million for full government tuition-fee subsidies making 2022 the highest level of support ever provided.

The 2022 Budget invests more in community services with an increase in funding by 52percent, up from K102 million to K156 million.