Budget 2019: Government to spend GHC73.4bn in 2019

Budget 2019: Government to spend GHC73.4bn in 2019

- The finance minister, Ken Ofori-Atta, said the government will spend a total of GH₵73.4bn in 2019

- This, he said, has been approved by Parliament

- The GH₵73.4bn is 27 per cent higher than the 2018 budget

The finance minister, Mr Ken Ofori-Atta, has revealed the government’s intention to spend a total sum of GH¢73.4 billion in 2019.

He has requested Parliament’s approval to enable the government spend that amount.

The total expenditure estimate, is inclusive of clearance of arrears is equivalent to 21.3 per cent of total economic output, measured by gross domestic product (GDP).

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The 2019 estimate is also 27 per cent higher than 2018 projected.

Giving a breakdown, the minister revealed that GH¢19.4 billion, representing about 26.5 per cent of total expenditure, will be spent on wages and salaries

He said the wage bill is anticipated to reduce to 5.6 per cent of GDP from the 5.9 per cent projected outturn for 2018.

Goods and Services will also consume some GH¢6.3 billion while some GH¢18.6 billion will be spent on interest payments of public debt.

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The Finance Minister made this known in his budget reading in Parliament on Thursday, November 2018.

Meanwhile, some Ghanaians have lashed out to president Akufo-Addo for his comments that so far no serious evidence of corruption has been found against any of his appointees.

This has angered the Ghanaians who have also said the president and his appointees will lose the 2020 elections.

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Source: Yen.com.gh

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