The Minister of Finance, Seth Terkper, is expected in Parliament today, October 20, 2016 to present an advanced budget covering government spending for the first quarter of 2017.
The move has become necessary because of the December 7 polls and the need to prevent overspending in case of a transition in government.
Mr. Terkper would outline the government’s projected revenue and expenditure between January and March 2017.
The chairman of the Finance Committee in Parliament James Avedzi told Starr Business the Finance Minister as permitted by the constitution would only be allowed to spend 25 percent of the entire 2017 budget.
The finance minister in July this year sought approval from parliament to spend an additional 1.8 billion cedis for the remaining of 2016.
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