Parliament grants approval for GH¢27.4 billion request for Q1 2021 expenditure

Advertisements
Parliament grants approval for GH¢27.4 billion request for Q1 2021 expenditure

Parliament has granted an approval of government’s request for an amount of GH¢27.4 billion towards expenditure for the first quarter of 2021.

The development comes just two days after the Finance Minister, Ken Ofori-Atta presented the request to legislators and the Speaker of Parliament for the amount to be sanctioned.

Chairman of the Finance Committee of Parliament, Dr. Mark Assibey Yeboah made the disclosure after the House held a debate on the request on Friday, October 30, 2020.

Dr Assibey Yeboah also provided the House further economic indicators and specifics on how government plans to use the funds.

On Ghana’s rising debt stock, the Chairman of the Finance Committee indicated the total debt stock as at August 2020 remains at GH¢267.7 billion representing 69.7 percent of Gross Domestic Product.

READ ON:  Ghana winger Samuel Owusu arrives at new club Al-Ahli Jeddah

Haruna Iddrisu, Minority Leader in Parliament during the debate in the House interrogated the accuracy of the numbers offered to Parliament by the Minister for Finance.

“What is worrying is that if we don’t get the statistics right on debt and GDP, we will not get the other figures right; even inflation, we will not get it right,” he cautioned.

Meanwhile, Ghana’s fiscal deficit pegged with the coronavirus pandemic and its associated impact on the economy has resulted in 9 percent of GDP for the period between January and September 2020.

Some economists have expressed worry that Ghana’s borrowing levels is likely to balloon as a result of what they describe as high consumption levels by government.

READ ON:  Policeman killed by speeding vehicle … 2 drivers on the run

Meanwhile, in 2018, the national debt of Ghana amounted to approximately 59.29 percent of the Gross Domestic Product, a figure that currently stands at over 65 percent.

SOURCE: ghanaweb.com

WhatsApp & Telegram Job Alert

To get daily Job Alerts on Whatsapp, Join Our WhatsApp Group via the link below.

NOTE: PLEASE IF YOU’RE ON ANY OF OUR WHATSAPP GROUPS, DON’T JOIN THIS ONE

CLICK HERE TO JOIN WHATSAPP GROUP

CLICK HERE TO JOIN TELEGRAM CHANNEL

DOWNLOAD NEWSNOWGH MOBILE APP BELOW FOR MORE JOBS

CLICK HERE TO DOWNLOAD APP

ASEM ABA! Lèåked tape of what Power Fm Journalist said about Akufo-Addo

NOTE:

UNDER NO CIRCUMSTANCE SHOULD AN APPLICANT PAY MONEY TO ANYONE IN GETTING A JOB WE HAVE PUBLISHED 

Leave a Reply