Finance Minister, Ken Ofori-Atta, believes the approval of the Earmarked Funds Capping and Realignment Bill, 2017 by Parliament will transform the economic fortunes of the country. “It begins the whole transformation exercise of ensuring that government can have its policies implemented in a more effective way and without the rigidities that are created by structural … Read more
The Minority Caucus in Parliament has warned that the robust Ghanaian economy built by the immediate past NDC government led by Mr. John Dramanai Mahama will soon melt down following the introduction of some austerity measures and huge budgetary allocation to service Government Machinery by President Nana Addo Dankwa Akufo-Addo. The President, they noted, will … Read more
The 2017 Ministries, Departments and Agencies (MMDAs) allocation to the Ministry of Health stands at GHs 4.2 billion. About half of the allocation will go into employee compensation with the least amount, representing GHc 56 million earmarked for capital expenditure. The allocation also indicates that the Health Ministry was able to retain almost GHc 1 … Read more
Finance Minister Ken Ofori-Atta has identified five main challenges the Akufo-Addo government will overcome in order to build the most business-friendly and people-centred economy in Africa which will translate into job creation for all Ghanaians. Presenting the 2017 budget statement in parliament on Thursday 2 March, Mr Ofori- Atta said “Low revenue collection, expenditure overruns … Read more
If government would not ensure adequate and timely transfers to its statutory funds, then it must as well collapse them, the Institute for Fiscal Studies (IFS), has said, calling for a review of the whole practice of earmarking portions of government revenue to meet statutory obligations. The District Assemblies Common Fund, established under article 252 … Read more
Government is expected to cough about GHC1,889,870,741 to pay interest on loans in the first quarter of 2017 calendar year. This revelation came to light on the floor of Parliament on Thursday, 20 October, 2016 when the Parliament approved a whopping GHC10.9 billion for the country’s expenditure in advance appropriation to help finance “critical government … Read more