By EDDIE OSIFELO
GOVERNMENT will table a $4.16 billion budget in the upcoming sitting of Parliament around March.
The 2022 Budget drops down by 7.9% from $4.496 billion Revised Budget estimate for 2021.
The Government expects a total SIG Revenue of $3.496 billion, down by 6.2% from $3.714 billion in 2021 Revised Estimate Budget.
There will be a Recurrent Expenditure of $3.83 billion, up by 1.4% from $3.78 billion in 2021 Revised Budget.
This is to meet the operations of the line ministries and agencies.
For projects, there is a Development Budget of $950 million, up by 1.1% from $939.8 million in 2021 Revised Budget.
The budgets expects a deficit of $269.5 million, up by 141% from $111.1 million in 2021 Revised budget.
The 2022 Budget Focus Areas are:
- Build domestic economy resilience
- Covid-19 operations and preventive programs
- Productive & Resource sectors, narrow and targeted investments and outputs that are designed to support economic growth and recovery
- Target other revenue generating activities
- Maintaining of key essential social services, education, health, safety/law, order and justice
The Other Charges Baseline & Budget Support are:
- Other charges baseline across productive/resource sector Ministries maintain the Baseline for 2021
- All fixed costs across Ministries including non-productive/resources sector Ministries also maintain baseline in 2022
- Baseline for key Ministries not under productive/resource sector but mandated to provide essential services also maintain 2021 baseline
- 15% reduction on certain discretionary budget lines across non-productive/resources sector Ministries
The theme of the Budget is: âBuilding Our Resilience: Laying Strong Foundations for Growthâ.
It aims to:
- To keep the economy afloat and accelerate growth
- To protect our people and economy safe from Covid-19
- KEEPING OUR ECONOMY AFLOAT AND ACCELERATING ECONOMIC GROWTH
- Investing Our Resources Smartly and Prudently – Focusing Strategically on Two Key Sectors.
- Productive Sector
- Resource Sector
- Create an enabling environment for growth and investment.
- Developing key Economic Infrastructures and Facilities that support growth
- Undertake and prioritise key legislative reforms to support growing the economy.
- PROTECTION AGAINST COVID 19 (Unwavering Support to Health and National Security)
- Border closure and control over international travel entry into Solomon Islands
- Set up border quarantine facilities and man power for incoming passengers
- Extensive roll out of vaccination across the country
- Government have allocated significant financial and budget resources in the fight against Covid-