• Responsible wings of Government will continue to update the nation on issues of recruitment’s of teachers and medical personnel and on the CDF.
• The larger part of financing for the 2022 Budget is from domestic revenues.
• Government did not and have not yet included financing from the anticipated IMF programme in this year’s National Budget.
Ministry of Finance and National Planning says recruitment of teachers and medical personnel and provision of funds under Constituency Development Fund (CDF) will proceed as scheduled to attain Government objectives of having solid human development upon which the country’s long-term growth will be anchored.
The Ministry in its latest Facebook Post Monitored by Money FM News, said responsible wings of Government will continue to update the nation on issues of recruitment’s of teachers and medical personnel and on the CDF and other matters, as and when milestones are reached.
It assured the nation that as indicated in the 2022 Budget Speech by the Minister of Finance and National Planning, the larger part of financing for the 2022 Budget is from domestic revenues explaining that Government did not and have not yet included financing from the anticipated International Monetory Fund programme in this year’s National Budget.
The Ministry of finance And National Planning explained the 2022 Budget financing portion that is from external sources is mainly from the International Monetory Fund (IMF) through the US$ 1.3 billion Special Drawing Rights (SDR) allocation disbursed by the IMF to the Government in August, 2021, and the rest of the financing is through ongoing project disbursements and recurrent expenditure, mainly from the World Bank.
It is also of the expectation that with the due processes followed, it will get an IMF Supported Programme this year and not only place the debt on a sustainable trajectory but also unlock resources from investors in many sectors of the economy who have been holding back because of uncertainty.
“We will do more once financing assurances and IMF resources are in place and debt relief, which will lessen the amount of internally generated resources being used to repay debt, is provided,” the Ministry said.