Business News of Wednesday, 18 December 2024

Source: GNA

Finance minister to present government's expenditure to Parliament this week

Dr. Mohammed Amin Adam, Minister of Finance Dr. Mohammed Amin Adam, Minister of Finance

The Finance Minister, Dr Mohammed Amin Adams, will present the Government’s expenditure in advance of the Appropriation Bill to Parliament this week.

This is to secure approval for the salaries of public sector workers from January to March 2025.

The document, which requests the House to approve GH₵68,134,674,527 from the Consolidated Fund, had been a subject of debate.

Minority Members of Parliament on Tuesday accused Dr Amin Adams of allegedly refusing to present the document to undermine activities of the next government.

However, Mr Osei Kyei-Mensah-Bonsu, the Minister of Parliamentary Affairs, debunked that accusation, saying the finance minister was engaged in Transition Team meetings and would do the needful.

“Mr Speaker, I think the Minister himself will be in charge. But as you know, there’s a role for him to play at the transitions team meeting.”

“…He has been there the whole day and Mr Speaker, there is also a cabinet meeting at 5 pm so I am just waiting to inform him that he needs to present the expenditure.”

“I guess tomorrow it should be ready or maybe latest the day after tomorrow but certainly in the course of the week it will be presented.”

The presentation of the expenditure in advance of the Appropriation is crucial to enable the government to meet its expenditure obligations before the coming into operation of the Appropriation Act for the 2025 fiscal year.

The Appropriation Bill, which outlines planned government expenditures for January to March 2025, when laid before the House would, will be referred to the Finance Committee for review before moving back to the House for debate and approval.

The delay in presenting the Bill during Parliament’s initial sitting on Monday, December 16, was attributed to the Finance Minister’s ongoing engagements with the transition team following the recently concluded general election.

The Speaker of Parliament, Mr Alban Bagbin, deferred the presentation on Monday noting the absence of an authorised representative to present the Bill on the Finance Minister’s behalf.

He assured the House that the Bill would be tabled within the week.

“…Honourable members, I know the report is ready because I was given a copy to admit for the consideration of the business committee which I did. But the challenge is who to present it on the Minister’s behalf.”

The work of the incoming National Democratic Congress (NDC) administration will be enhanced by this Appropriation Bill, which provides the fiscal framework for sustaining essential government operations in early 2025.

It is expected to enable the NDC to swiftly address fiscal imbalances, stabilise the economy, and lay the groundwork for implementing immediate policy priorities before presenting its first comprehensive budget later in the year.