Textile Sector Perspective on Budget
The Federal Budget for FY22 was announced on June 11th, 2021. The new economic team has accordingly set goals for the next two years, with an agenda characterized by two points: (i) inflation and (ii) revenue generations to fund social programs for the masses. Out of the current expenditures, the major portion of 72.34% will be spent upon General Public services that include debt repayments, pensions, salaries and perks among other things. 18.2% on Defense, 3.5% on social protection, 2.4% on Public Order & safety, 1.6% on Economic Affairs, 1.2% on Education, 0.5% on Housing, 0.5% on Health, 0.1% on Recreation, Culture & Religion and on last priority only 436 million for pollution control.