Parliament has approved the Finance Ministry’s request to spend an amount of GH¢27,434,180,520 from the Consolidated Fund to finance government operations for the first quarter of the 2021 financial year.
Finance Minister, Ken Ofori-Atta, on Wednesday, presented to Parliament, estimates of the revenue and expenditure of the government for January to March 2021 to enable the successive government after the December elections run its government smoothly for the first three months of the year after an election.
Mr. Ofori-Atta in presenting the budget to Parliament explained that, all the expenditure budgeted for the first quarter is for essential and statutory payments whilst all non-core expenses will be deferred to the second quarter of 2021.
The expenditure that were budgeted for include, the compensation of employees which has been estimated at GH¢ 7,708,960,148, Goods and Services at GH¢1,595,571,683, and Interest Payments at GH¢ 7,002,221,941, with Subsidies budgeted at GH¢ 259,087,194.
Additionally, GH¢ 4,340,216,517 will also be spent on Grants to other Government Units with Social Benefits pegged at GH¢ 41,271,000 while provisions were made for Other Expenditure, Capital Expenditure, Arrears Clearance and Amortisation at GH¢ 813,610,025.00, GH¢1,903,658,408 GHS 350,000,000 and GH¢3,419,583,605 in that order.