Ghana’s Parliament approves over $17 billion for the government’s 2020 expenditure

Ghana’s Parliament has approved the Akufo-Addo-led government’s expenditure of about $17,625,420,000 (GH¢100 billion) for the 2020 financial year.

Ghana's Parliament

This was contained in the Appropriation Bill, which was taken through the Second Reading. The reading of the Bill requested the House to approve and authorise the withdrawals of monies from the Consolidated Fund and other funds for the financial administration of the State during the 2020 Financial Year.

The Bill was read for the first time in the House, on Saturday, December 21, 2019, by Finance Minister Ken Ofori-Atta, and later referred to the Finance Committee for consideration and report.

This Bill repeals the Appropriation Act 2018. It also authorizes the withdrawal of sums of monies from the Consolidated Fund and other funds for the implementation of the Budget.

Out of the amount approved, GHC53.294 billion will be withdrawn to finance government operations during the 2020 financial year.

The Chairman of Parliament’s Finance Committee, Dr Mark Assibey-Yeboah, stated in the Committee’s report that they have specified in the Schedules to the Bill which sums shall be apportioned to specific activities.

He said this is to help carry out efficiently the services of the Government for the 2020 Financial Year.

The House had also approved various sums as budget estimates for Ministries, Departments, and Agencies (MDAs) and it is, therefore, necessary that the Minister of Finance be given authority to withdraw such approved monies for the purposes thereof.

The Finance Committee stated that MDAs shall be permitted to retain and use GH¢4.9 billion of their Internally Generated Funds (IGFs) next year.

Finance Minister Ken Ofori-Atta, on November 13, 2019, presented the 2020 Budget Statement and Economic Policy of the Government to Parliament and requested the House to approve and authorize the withdrawal of monies from the Consolidated Fund and other funds for the running of the State.

The approval runs from January 1, 2020, to December 31, 2020.

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