Ghana’s Parliament has approved the 2025 Mini-Budget, amounting to GHC68.13 billion, following extensive discussions with Finance Minister Dr. Mohammed Amin Adams. The budget will cover government operations for the first quarter of 2025, pending the presentation of a full budget by the incoming Mahama administration.

The approval comes after the Minister presented the Expenditure in Advance of Appropriation for January to March 2025 on January 2, 2025. The proposal was referred to the Joint Committee on Budget and Finance for review, as stipulated by the 1992 Constitution and Parliament’s Standing Orders.

Budget Highlights:

Total Revenue and Grants: Projected at GHC42.54 billion (3.5% of GDP), including:

GHC40.67 billion in Domestic Revenue

GHC1.87 billion in Tax Revenue

GHC68.65 million in Grants

GHC1.04 billion from Social Security Contributions and other sources

Expenditure Provisions: Focus on critical sectors such as tax refunds (GHC2.37 billion), healthcare, education, and infrastructure.

The approval process was marked by heated debates, with the majority and minority parties clashing over issues like spending priorities and revenue strategies. Despite accusations from the minority that the Finance Minister delayed the budget’s presentation, the majority defended its importance for maintaining government operations.

This approval marks a significant step as Ghana transitions to the Mahama administration, with attention now turning to the government’s ability to implement the budget effectively.

Source:TheDotNews