Home / Uncategorized / ELECTIONZONE: Finance Minister presents 2021 first quarter budget, seeks approval for the withdrawal of GH¢27.4bn

ELECTIONZONE: Finance Minister presents 2021 first quarter budget, seeks approval for the withdrawal of GH¢27.4bn

The  Expenditure In Advance Of Appropriation; 2021 first quarter budget, has been presented in parliament by the  Minister For Finance, Mr. Ken Ofori Atta  with a requested that the house approve by resolution the withdrawal of Twenty-Seven Billion, Four Hundred And Thirty-Four Million, One Hundred And Eighty Thousand, Five Hundred and Twenty Ghana Cedis, from the Consolidated Fund.

The minister moved the motion on Wednesday,28th October,2020 in accordance with Article 180 of the 1992 Constitution, and in line with Standing Order 145 of the honorable House, on the authority of His Excellency the President, Nana Addo Dankwa Akufo-Addo.

According to the Minister, the withdrawal of the sum from the Consolidated Fund, is for the purpose of meeting expenditure necessary to carry on the services of Government in respect of the period expiring three months of the Financial Year or on the coming into operation of the Appropriation Act in respect of 2021 Financial Year.

He gave a vivid account of the state of the economy under the government of the Akufo Addo’s administration, were he indicated that in their quest to stabilize the economy, they have lowered the rate of debt accumulation, re-profiled our debt, and, implemented a number of structural reforms in a transparent manner for an efficient and effective management of public debt.

However, Mr. Ken Ofori Atta stated that the Ghanaian economy has also faced the health and economic consequences of this pandemic which threatens lives and livelihoods.

‘’But by  God’s Grace, COVID-19 has so far not been as deadly due to the  President’s leadership, thus , their  preoccupation has been on addressing the socio-economic dislocations occasioned by this pandemic’’

Meanwhile, he indicate that the request for an amount of GH¢27.4 billion is to carry on the services of government until the expiration of three months from the beginning of the 2021 Financial Year. The total amount is to cover Government operations, such as Compensation of Employees, ex gratia awards, Interest and Amortization payments, transfers to Statutory Funds, critical programmes and Goods and Services, and Capex allocations of MDAs.

By Mary Quartey

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