Government of Ghana to receive $16 billion for operations in 2019

Ghana’s Parliament has passed an Appropriation Act 2018, that will enable the government to spend up to$16 billion for the 2019 financial year commencing January 1.

Ghana's Finance Minister, Ken Ofori Atta

This follows a gathering the parliamentarians had on Saturday, December 22, 2018.

Some of the authorized amounts will be withdrawn from the Consolidated Fund. Whiles the other amount will as well be withdrawn from other funds to help finance government operations during the 2019 financial year. 

The Deputy Finance Minister Abena Osei –Asare on behalf of the Finance Minister, Ken Ofori-Atta presented the bill to parliament to for approval.

The amount was announced in the Appropriation Bill, 2018, which was taken through a certificate of urgency, before the House rose for the Christmas break, moments after midnight. 

Ghana’s financial year begins from 1st January 2019 and ends on 31st December 2019. 

Although Parliament has approved various sums as Budget Estimates for Ministries, and Departments and Agencies (MDAs) of Government for the 2019 financial year, it became imperative that the Minister of Finance be given authority to withdraw such approved amount for the purposes thereof. 

According to a report from the Finance Committee of Parliament, the specific purposes for which the sums shall be appropriated have been specified in the Schedules to the Bill, all of them geared towards efficiently carrying out the services of the Government for the 2019 Financial Year. 

Also, the Finance Committee noted that the MDA shall be permitted to retain and use an amount of $800 million of Internally Generated Funds during the 2019 Financial Year. 

Out of the total amount of $16 billion, $8 billion would constitute payments of other government obligations. 

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