The Minority Leader and MP for Tamale South has stated that the current NPP government is going to leave what he called “fractured economy” for the NDC government to inherit.
The Minority Leader, Haruna Iddrisu interacting with Journalists in Parliament in respond to the 2021 Expenditure in Advance of Appropriation presented by The Finance Minister, said “We needed to have an understanding of the state of the economy, then we know what John Mahama will be inheriting: It will be a fractured, fragile economy depended on debt and borrowing”.
According to him, the minister has failed as a matter of law, to submit to the house the report on the economy.
…… “as you noted from the Minister’s presentation, conspicuously missing is the report on the performance of the Ghanaian economy to give us the real state of the economy including the performance of the first quarter, second quarter and the third quarter of 2020”.
He stated that “Ghanaians needed to have an appreciation of how our revenue has fared with COVID-19, how it will fare tomorrow with or without COVID-19.
The Finance Minister is seeking the house to approve an amount of GH¢27,434,180,520 (Twenty-Seven Billion, Four Hundred and Thirty-Four Million, One Hundred and Eighty Thousand, Five Hundred and Twenty Ghana Cedis) as Expenditure in Advance of Appropriation to carry on the services of government until the expiration of three months from the beginning of the 2021 Financial Year.
He also requested an approval for the issuance of sovereign bonds of US$3 billion with the option to increase it to US$5 billion should market conditions prove favourable.
Below is expenditure amount (GH¢)
1 Compensation of Employees 7,708,960,148
2 Use of Goods and Services 1,595,571,683
3 Interest Payments 7,002,221,941
4 Subsidies 259,087,194
5 Grants to Other Government Units 4,340,216,517
6 Social Benefits 41,271,000
7 Other Expenditure 813,610,025
8 Capital Expenditure 1,903,658,408
TOTAL EXPENDITURE 23,664,596,915
9 Arrears Clearance 350,000,000
10 Amortisation 3,419,583,605
APPROPRIATION 27,434,180,520
Story filed by Edzorna Francis Mensah
