In spite of a planned amount of $15.76 billion, the COVID-19 epidemic was fought in 2020 and 2021 with only $12 billion, according to Finance Minister Ken Ofori Atta.
This is $3.72 billion less than what was planned.
After being called to the floor of the legislature to respond to 16 urgent questions on the government's use of funds designated for the COVID-19 Pandemic, Mr. Ofori-Atta made the remark.
"Mr. Speaker, the projected spending for the COVID-19 associated expenditures for the years 2020 and 2021 amounted to 15.76 billion, of which the actual utilisation was 12.036 billion," he stated.
Mr. Ofori Atta provided a breakdown, saying that COVID-19-related expenses in 2020 were budgeted for a total of 11.1 billion, including the Coronavirus Alleviation Programme (CAP).
"Out of this amount, a total of 8.1 billion was utilised," he said, going on to say that it was used to support households, provide equipment and relief to health workers (Health Response), build health infrastructure, conduct security operations, evacuations, quarantines, and coordination, provide economic relief, stabilise and revitalise the area, and release Covid-19 complementary materials.
According to Mr. Ofori Atta, a total of 4.6 billion was allocated in the 2021 budget for COVID-19-related costs, of which 3.9 billion, or 85%, had been used as of the end of December 2021.
The Finance Minister also used the chance to dispel certain rumours that government representatives had given conflicting information on COVID-19 expenditure.
"I want to debunk the idea that the government's COVID-19 data has been inconsistent. During the State of the Nation Address on March 30, 2022, His Excellency the President mentioned that we have mobilised around $17.7 billion since 2020 to combat the epidemic.
"We later reconciled the statistics, and I can now say that, as of the end of May 2022, we had raised $18.19 billion to help lessen the impact of the epidemic. Again, as I've previously mentioned, His Excellency the Vice President made reference to expenditures for 2020 when he said at the National TESCON Conference on April 7, 2022 that the government had spent 8.1 billion on Covid-19.
In addition to other fiscal actions made by the administration, Mr. Ofori Atta said that the Ministry of Finance requested and received Parliament's agreement to cut the Stabilization Fund Cap at the beginning of COVID-19.
According to him, this made it possible to transfer almost $1.20 billion to the contingency fund.
"Upon receiving Parliament's consent, the Government withdrew $1.20 billion to aid in efforts to lessen the impact of the epidemic. The 2020 Budget has been updated to reflect both policy adjustments and executive actions taken to lessen the impact of the pandemic in the 2020 Mid-Year Fiscal Policy Review.
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