Parliament Okays Government to Spend Over GHC 98 Billion For 2020

24-12-2019



Parliament on Monday December 23, passed the Appropriation Act 2019, giving Government the green light to spend up to the sum of Ninety-Eight Billion, Thirty-Six Million, Six Hundred and Ninety-Two Thousand, Three Hundred and Fifty-Eight Ghana Cedis        (GHC 98,036,692,358.00) for the 2020 financial year commencing January 1.

 

Out of the total amount of GHC 98,036,692,358.00, the House approved and authorised an amount of Fifty-Three Billion, Two Hundred and Ninety-Four Million, Eight Hundred and Thirty-Four Thousand, One Hundred and Forty-Seven Ghana Cedis (GHS 53,294,834,147.00) to be withdrawn to finance Government operations during the 2020 financial year which commences on 1st January 2020 and ends on 31st December 2020. 

 

This was announced in the Appropriation Bill which was taken through the second reading before the House rose for the Christmas break at midnight requesting the House to approve and authorise the withdrawals of monies from the Consolidated Fund and other funds for the running of the State during the 2020 Financial Year.

 

The Bill, which repeals the Appropriation Act 2018, authorised the withdrawal of sums of monies from the Consolidated Fund and other funds for the implementation of the Budget of the 2020 Financial Year.

 

It was presented and read for the first time in the House on Saturday 21st December 2019, by the Minister responsible for Finance Hon. Ken Ofori-Atta and subsequently referred to the Finance Committee for consideration and report in accordance with Article 179 (2) of the 1992 Constitution and the Standing Orders of the Parliament.

 

The Chairman of the Finance Committee of Parliament Hon. Mark Assibey-Yeboah  in the Committee’s report stated that the specific purposes for which the sums shall be appropriated have been specified in the Schedules to the Bill and are all geared towards carrying out efficiently the services of the Government for the 2020 Financial Year. 

 

The House, he continued, had earlier approved various sums as budget estimates for Ministries, Departments and Agencies (MDAs) of Government for the 2020 financial year and it therefore became imperative that the Minister of Finance be given authority to withdraw such approved monies for the purposes thereof. 

 

According to the Finance Committee Ministries, Departments and Agencies (MDAs) shall be permitted to retain and use an amount of Four Billion, Nine Hundred and Ninety Million, One Hundred and Seventy-One Thousand, Five Hundred and Eighty Ghana Cedis (GHS 4,990,171) of Internally Generated Funds (IGFs) during the 2019 Financial Year. 

 

It may be recalled that the Finance Minister, Ken Ofori-Atta, acting on the authority of the President on Wednesday, 13 November 2019 presented the 2020 Budget Statement and Economic Policy of the Government to Parliament and requested the House to approve and authorise the withdrawal of monies from the Consolidated Fund and other funds for the running of the State.

 



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