Finance Minister, Mr. Ken Ofori Atta has requested for an amount of GH¢27.4 billion to carry on the services of government until the expiration of three months from the beginning of the 2021 Financial Year.
In October 2016, Former Finance Minister, Mr. Seth Terkper requested almost 11 billion cedis ($2.75 billion) and Ghana’s parliament approved state spending of $2.75 billion through the first quarter of 2017 in advance of an annual budget to be delivered after elections in December.
A bill of 3.9 billion cedis for civil service salaries constituted the largest slice of the $2.75 billion total, according to the document in 2016.
Mr. Ken Ofori Atta said 2021 total amount is to cover Government operations, such as Compensation of Employees, ex gratia awards, Interest and Amortization payments, transfers to Statutory Funds, critical programs and Goods and Services, and Capex allocations of MDAs.
The details of the expenditure are as follows:
EXPENDITURE and AMOUNT
Compensation of Employees GH¢ 7,708,960,148
Use of Goods and Services GH¢ 1,595,571,683
Interest Payments GH¢ 7,002,221,941
Subsidies GH¢ 259,087,194
Grants to Other Government Units GH¢ 4,340,216,517
Social Benefits 41,271,000
Other Expenditure GH¢ 813,610,025
Capital Expenditure GH¢ 1,903,658,408
TOTAL EXPENDITURE GH¢ 23,664,596,915
Arrears Clearance GH¢ 350,000,000
Amortisation GH¢ 3,419,583,605
APPROPRIATION GH¢ 27,434,180,520
The Minister also requested the approval for the issuance of sovereign bonds of US$3 billion with the option to increase it to US$5 billion should market conditions prove favorable.
Source: Mybrytfmonline/Kofi Atakora
