Budget tabling today: PM

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PRIME Minister James Marape says the 2022 National Budget will be tabled today after it was deferred from Tuesday.
He yesterday said Treasurer Ian Ling- Stuckey would table the money plan for next year amid political speculations.
Marape said: “I want to assure PNG that your government is at work despite many challenges, and the handing down of the budgets is the most important parliamentary occasion of any government, and we will deliver our third budget.
“With hangovers and effects of a slowed economy due to Coronavirus (Covid 19), Government has used the last three years’ national budget to ensure our domestic economy was functional and crucial services maintained.
“With success in expanding our K19.3 billion 2020 budget, and in 2021 tracking at above 80 per cent of our forecast money plan in what will be a K20.2 billion budget.” He said the Ling-Stuckey would indicate the correct path to economic recovery “with analysis by multilateral budget partners like the ADB, IMF and World Bank”.
“Our positive trajectories show an increase in Gross Domestic Product for next year as well as a declining budget deficit trend,” he said.
Marape said in the past two and half years, the Government “invoked the use of our money plan to ensure schools, hospitals, Covid-19 programmes, road construction, SME funding, retiring old debts and contractual obligations, paying outstanding industrial awards etc were our deliberate intervention to keep our economy functioning despite tough times”. “Our 2022 money plan will not have many surprises except some key Government policy-based interventions that will evident in both revenue and expenditure allocations,” he said.

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