Parliament of Ghana has approved GHS27,434,180,520.00 budget termed Expenditure in Advance of Appropriation for a quarter of 2021.
The budget was presented to Parliament for approval by Finance Minister Ken Ofori Atta on Wednesday, October 28, 2020, in a bit to prevent transitional challenges and ensure the smooth running of government for the first three months in the year after an election.
Presenting to parliament, the chairman of the finance committee of the house also the Member for New Juaben South Dr. Mark Asibbey Yeboah told Parliament that, the anticipated expenditure as contained in the motion moved by the Finance Minister in the advance expenditure for the ensuing year includes, compensation of employees which amounts to Ghc7,708,960,148.00.
Mr. Assibey Yeboah further told the house that, an amount of GHS1,595,571,683, interest payment of Ghana’s debt will also swallow GHS7,002,221,941.00, subsidies will also consume GHS 259,087,194.00
According to the finance committee chair, grant to other Government units will use an amount of GHS4,340,216,517.00, social Benefit GHS41,271,000.00, other expenditure GHS 1,903,658,408.00.
He explained that, the total expenditure will cost the state GHS23,664,596,915.00, areas clearance GHS350,000,000.00 and amortization will cost GHS3,419,583,605.00.
Source: Mybrytfmonline.com/Obed Ansah
