Business

Gov’t requests to spend GHS27.4bn in 1st quarter of 2021

Government is requesting to spend GHS27,434,180,520.00 from the Consolidated Fund in the first quarter of 2021.

Finance Minister, Ken Ofori Atta said this will enable government meet expenditure in the first quarter of the year 2021.

The Minister speaking on the floor of parliament moved the motion for the house to grant government the said amount to ensure that government is able to operate within the period.

“I beg to move that this honourable House approves by resolution ,the withdrawal of the sum of GHc27,434,180,520.00 from the Consolidated Fund for the purpose of meeting expenditure necessary to carry on the services of the government in respect of the period expiring three months from the beginning of the financial year or on the coming into operation of the Appropriations Act in respect of the 2021 financial year,” he noted

For projections for the first quarter, he said, “…For the purpose of the 2021 Expenditure in Advance of Appropriation, we projected the 2021 first-quarter total revenue and grant to be GHS13.3 billion of our total expenditure including clearance of arrears is projected at GHS12 billion which will result in the projected total deficit of GHS10.7 billion for the period.”

He asked the local businesses to leverage on the African Free Trade to expand their businesses.

The Minister also explained that adequate resources have been made available for the EC and enough security to ensure peaceful elections.

Ken Ofori Atta also said the days of Highly Indebted Poor Country, HIPC is behind us as a country.

According to him, those who mismanaged the economy for the NPP government to come and fixed it are the ones wishing ill for Ghana.

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