Parley approves k173.0 billion 2022 national budget

Parliament has approved the k173.0 billion 2022 national budget equivalent to 37.1 percent of GDP.

The 2022 National Budget is now expected to take effect on 1^st January, 2022 following its approval.

Of the total budget of k173.0 billion, revenues and grants are k100.7 billion representing 21.6 percent of GDP.

The gross financing of k72.3 billion which translates to a budget deficit of 6.7 percent of GDP, will be raised from external and domestic sources, including a drawdown on the special drawing rights.

The 2022 National Budget is expected to see the recruitment of 30,000 teachers and 11,200 health workers.

The 2022 National Budget whose theme is: ‘growth, jobs and taking development closer to the people’ is the first UPND administration budget following the party’s victory in the august 12, 2021 general election.

Meanwhile parliament has adjourned sine-die after concluding all business on the order paper.