- Parliament has approved a request for GHc11.8 billion by the government to support its expenditure until the end of the year
- The government was compelled to request additional funding due to the economic impact of the coronavirus
- Ken Ofori-Atta, the Finance Minister, revealed the government presented the budget due to fallen revenue levels
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Information available to YEN.com.gh shows that Parliament has approved the GHc11.8 billion supplementary budget presented by the government.
Finance Minister, Ken Ofori-Atta, indicated that the funds are needed to support the government’s expenditure for the rest of the year following the outbreak of COVID-19.
He explained that the government had no choice but to present the request as its revenue level has fallen short.
He said there is an increasing level of expenditure due to the economic impact of the virus.
A report by citibusinessnews.com shows the government blamed the pandemic and global economic recession for a current expenditure of about GHc11.7 billion.
Before the budget was approved, Haruna Iddrisu, the minority leader in Parliament, questioned how responsible the government has been with respect to the use of resources in managing the pandemic.
In other news, former minister of finance, Seth Terkper, has called on the government to come clean on the various funds provided for the fight against the coronavirus.
The government, in a bid to combat the outbreak of COVID-19, accessed funds from different sources such as the International Monetary Fund, World Bank, Stabilization Fund, and the Bank of Ghana.
Terkper argued that the government is diverting some of the funds to address its pressing needs.
He added that the increasing rate of borrowing by the government is a cause for concern.
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