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PNG Government Tables Deficit Budget of over K22 billion

The Papua New Guinea Marape-Basil Government’s 2022 national budget is under the theme; Lightening the Burden”.

Treasurer Ian Ling Stuckey tabled the deficit budget of over K22-billion in Parliament this afternoon.

Treasurer Ian Ling Stuckey
Treasurer Ian Ling Stuckey 

The total revenue projected for 2022 is over K16 billion and a total expenditure of more than K22 billion with a deficit of more than K5-billion.

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 per cent increase from the 2021 Supplementary budget and the expenditure increased by 9. 3 per cent.

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-per cent.

Government priorities of Health, Education, S-M-Es, Agriculture, and infrastructure developments among others remain.

NBC News / PNG Today

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