Govt to spend GH¢85.9 billion in 2020

The government intends to spend GH¢85.9 billion, representing 21.6 per cent of the country’s Gross Domestic Product (GDP), in the 2020 fiscal year.

The key drivers of the projected expenditure include the wage bill, which is projected at GH¢22.9 billion, interest payments of GH¢21.7 billion, goods and services for government operation at GH¢8.3 billion and capital expenditure of GH¢9.3 billion.

Other areas are the one-off financing of the 2020 presidential and parliamentary elections, funding of government flagship programmes and security.

The Minister of Finance, Mr Ken Ofori-Atta, gave the breakdown on Wednesday when he laid before Parliament the 2020 Budget and Economic Statement of the government.

Part of the expenditure will be directed at building infrastructure for the six newly created regions in the areas of administration blocks, educational and health infrastructure.

The 2020 expenditure estimates represent a 21.2 per cent increase over what the government projects will be spent by the end of this year.

Atmosphere in Parliament

Appearing in his signature all-white caftan, the Finance Minister exuded confidence and maintained a calm demeanour, even in the face of intermittent cheers from the Majority and jeers from the Minority, as he outlined the successes that the government had chalked up in the last three years.

Source: ghanaweb.com