Teacher and nursing trainee allowances combined are predicted to cost the government $401.1 million in 2022.
The entire allocation for combined teacher and nursing trainee allowances for 2022 is 401.1 million, according to data from the 2022-2025 budget planning guideline paper.
Nursing trainee allowances (231.2 million) account for 57.6 percent of this total, while teacher trainee allowances (169.9 million) account for 42.4% of the total anticipated allocation of 401.1 million.
In 2022, the government plans to spend a total of $128.3 billion, with a matching income generation of 89.1 billion, resulting in a budget deficit of over 40 billion.
This indicates that the financial allocation for combined teacher and nursing trainee allowances will exceed 0.3% of expected spending in 2022.
Based on additional examination of the data contained in the budget guideline document, the government expects to spend more on interest payments than on employee remuneration for the second year in a row.
In 2022, the estimated amount for interest payments is 37.1 billion, which is three times the amount the government wants to spend on capital investment.
Furthermore, the predicted amount to be spent on interest payments and compensation alone will account for about 91 percent of the income sought by the government in 2022.
According to the Ministry of Finance’s predictions, interest and compensation payments will consume more than 53% of the government’s planned spending in 2022.