Parliament Gives Green Light to GHC68.1bn mini-budget for Q1 2025

Accra, Ghana - 2 Jan, 2025 - Ghana's Parliament has given the green light to the 2025 Mini-Budget, paving the way for GHC68.13 billion in government spending for the first quarter of the year. This stopgap measure will keep the wheels of government turning until the incoming Mahama administration presents its comprehensive budget.

The Finance Minister, Dr. Mohammed Amin Adam, presented the Expenditure in Advance of Appropriation for January to March 2025, which was then scrutinized by the Joint Committee on Budget and Finance. After intense debate, the committee gave its nod of approval, highlighting the contrasting views of the majority and minority parties.

So, what's in the budget? Total Revenue and Grants are projected to reach GHC42.54 billion, with GHC40.67 billion coming from domestic revenue. Tax revenue is expected to rake in GHC1.87 billion, while grants will contribute GHC68.65 million.

In terms of Expenditure Provisions, the focus is on critical government functions, including tax refunds, healthcare, education, and infrastructure development. A whopping GHC2.37 billion has been allocated for tax refunds.

The passage of this mini-budget marks a crucial transition as the Mahama administration prepares to take office.

Source: Lead News Online