The Ghanaian Parliament has granted approval for a mini-budget worth GHS 68.1 billion to cater to government expenditures in the first quarter of 2025. This budget serves as an advance appropriation, allowing essential services to continue seamlessly while the incoming administration prepares a full-year budget. Of the approved amount, GHS 16.4 billion is allocated for public sector salaries, and GHS 20.69 billion is earmarked for interest payments on loans. The budget proposal, presented by the Finance Minister, underwent thorough scrutiny by a joint committee of Finance and Budget, ensuring all aspects were assessed before its submission to the parliamentary plenary for consideration. The Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin, facilitated the final approval after deliberations led by the Budget Committee Chairman, Thomas Ampem Nyarko, and Finance Committee Chairman, Patrick Yaw Boamah.
This allocation aims to sustain government operations during the transitional phase, covering critical expenses like salaries and debt servicing while supporting national programs. The mini-budget underscores the government’s commitment to meeting its financial obligations despite the period of political change. It also reflects Parliament's proactive approach to maintaining financial stability and averting disruptions in essential services. By approving this budget, Parliament ensures that the government can continue functioning effectively, paying civil servants on time and meeting pressing financial needs without interruptions. This decision also sets the tone for a smooth transition, as the full budget for 2025 will be unveiled by the new administration later in the year.
Beyond operational expenses, this mini-budget reflects the broader priorities of ensuring fiscal discipline and economic stability during a critical period. It provides a framework for continuity, reinforcing confidence in the government's ability to meet its obligations even in the face of political shifts. The swift approval process highlights the collaborative effort between the executive and legislative arms of government to prioritize national interests. As this provisional budget takes effect, it will enable the government to manage its core functions efficiently while awaiting the comprehensive financial plan for the year. This strategy is essential to maintain economic stability and uphold public trust during this transitional phase.
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