National Assembly approves the Ministry's 2022 budget allocation
December 07, 2021
The budget allocation for the Ministry of Finance, Economic Planning and Trade has been approved, by the National Assembly, in the afternoon of Tuesday 07th December.
A total sum of SR162.3 million was approved for the Ministry.
The Ministry of Finance, Economic Planning and trade comprises of three departments: Finance, Economic Planning and Trade.
The biggest allocation of the budget, SR 98.2 million, will go to the Finance department.
To note, the salary heading of the department has gone down by SR31.6 million. The reduction, is because 187 accounts staff and 9 procurement staff will as of next year, be transferred to their respective ministries, departments and agencies.
As for the Department of Economic Planning, its budget allocation is SR3.5 million, which is an increase of R333,000, when compared to the revised budget of 2021.
The Department of Trade, will have an allocation of SR60.7 million, which represents a reduction of SR48.9 million, compared to the revised budget of 2021.
The reduction is primarily due to the ‘Non-Produced Assets’, where a decrease of SR48.9 million was registered. ‘The Non-Produced Assets’ are money which the department receives through development funds, such as SADC Trade Related Facility and the 11th European Development Fund (EDF).
Below is the budget session of the Ministry, in the National Assembly.