Marape-Basil oversee K22B deficit

THE Marape-Basil government’s 2022 national budget has the theme ‘lightening the burden’ but the numbers delivered by Treasurer Ian Ling Stuckey were dark: the country has a deficit of more than K22 billion.
Marape-Basil oversee K22B deficit Marape-Basil oversee K22B deficit Marape-Basil oversee K22B deficit Marape-Basil oversee K22B deficit Marape-Basil oversee K22B deficit

James Marape

Staff Reporter

The total revenue projected for 2022 is more than K16 billion and a total expenditure of more than K22 billion with a deficit of more than K5 billion, The National newspaper reports.
 
The money plan comes at a time the country is faced with the challenges brought about by the coronavirus pandemic.
 
The 2022 revenue projected is an 18.4% increase from the 2021 supplementary budget and the expenditure increased by 9. 3%.
 
Much of the government's revenue source will come from taxes and donors funding, including non-tax revenue.
 
The government has also introduced initiatives to raise revenue through telecommunication and Bank South Pacific levies and reduced the districts and provinces Improvement Program funds by 20%.

 

topics

loader
  • NEW: Digital version of PNG Report magazine - View here
  • Porgera: Barrick-PNG talks go on - Read more
  • Follow the companies investing in the PNG market - Read more