Minister of Finance Dr Ashni Singh says preparations for Budget 2023 are well underway.
Dr Singh who spoke with MTV News Update recently, said the budget circular has already been issued.
“The budget process is almost a continuous process, we have already issued the budget circular for 2023, we have started to gather information and preliminary data.”
He added, “As you know, we have just issued our mid-year report and have updated the projection of our economy. We are developing the framework within which budget 2023 will be cast.”
The official date for the reading of Budget 2023 is not yet known, but this should happen before the end of the first quarter.
President Ali and Cabinet Members have hinted that Budget 2023 will cater to massive transformation. In Budget 2022, money was allocated for an increase in the ‘Because We Care’ cash grant, pension, and public assistance. Additionally, a sum of $5 billion was allocated to cushion rising food prices.