The Government is estimating a total revenue of $3.559 billion for 2022.
This comprises of $3.053 billion in normal Solomon Islands Government revenues, $304.1 million in Budget Support revenue from donor partners, $20 million secured from development partners to fund the development budget initiatives, and $180.6 million in donor support for Governments ongoing COVID-19 transmission response activities.
This was announced by the Minister of Finance and Treasury when tabling the 2022 Appropriation Bill in Parliament Thursday last week.
Kuma said in terms of funding sources, the total tax revenue from both the Inland Revenue Division (IRD) and Customs and Excise Division are projected at approximately $2.552 billion in 2022. This is a slight decrease of 2.3 percent from the 2021 revised estimates.
The total IRD revenues for 2022 is estimated at $1.695 billion, or 2.8 percent below the 2021 original revenue estimates of $1.744 billion.
Similarly, the total revenue under Customs for 2022 is estimated at $858 million. This is lower than the revised estimates of $868 million for 2021, but higher than the original 2021 estimates of $832.4 million.
Total revenues from other ministries for 2022 is estimated at $500.5 million, higher than both the original and revised estimates in the 2021 Budget.