Accra (Greater Accra) 5 Feb.'99

The Minister of Finance, Mr Kwame Peprah, said today that over the medium term, the government will maintain its drive to ensure transparency, good governance and political stability. This will be done through the established institutions of parliamentary democracy to facilitate foreign and domestic participation in the economy. Presenting the government's budget to Parliament in Accra, he said the General Administration sector under the Medium Term Expenditure Framework, comprises Local Government and Rural Development, Foreign Affairs, Finance, Parliamentary Affairs and Office of Parliament. The rest are Public Services Commission, National Electoral Commission, Office of the Administrator of District Assemblies Common Fund, General Government Services, Office of Government Machinery and Audit Service. Mr Peprah said economic management will be strengthened and focus will continue to be placed on the formulation and implementation of sound fiscal and monetary policies. There will also be efficient mobilisation, allocation and management of financial resources. "Good public financial management and continued promotion of an investor friendly environment for both domestic and foreign investment will also be pursued." Mr Peprah said to achieve these broad-based objectives, a total of 2,887 billion cedis has been allocated to the Administration Sector over the medium term. The amount for 1999 is 1,038 billion cedis. Indicative provisions for 2000 are 949 billion cedis while those for 2001 are 900 billion cedis. The Minister said the allocations to the General Administration sector are expected to decline gradually over the years, from 26.89 per cent to about 20.31 per cent of total discretionary expenditures. "The decline in budgetary allocations in 2000 and 2001 will reflect the increased efficiency in public service administration as a result of the reform programmes which are currently in various phases of implementation." Mr Peprah said 313.8 billion cedis has been programmed for the Ministry of Finance and its departments and agencies. For 1999, the amount is 120.8 billion cedis while indicative amounts for 2000 are 128 billion cedis and for 2001, 144.9 billion cedis. The Minister said government will be enforcing the regulation that the Controller and Accountant-general's Department is the sole authority for the issuance of value books. To this end, budgetary allocations hitherto made to the revenue collection agencies for printing of value books have now been allocated to the Controller and Accountant General's Department. For this year, 10 billion cedis has been allocated. Mr Peprah said to ensure a smooth take-off of the National Population and Housing Census, 30.2 billion cedis has been provided this year for on-going preparatory work for the Statistical Service.