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Government suspends 20 percent of 2022 expenditure in budget

The Minister of Finance Ken Ofori-Atta

Finance Minister Ken Ofori-Atta has revealed that the government has suspended 20% of the expenditure in the 2022 budget.

In an interaction with the media on Wednesday, January 19, the finance minister said government has decided to manage its expenditure in this year and beyond.

“To ensure that the government matches all expenditure to revenue inflows, all expenditure commitments in 2022 will be adjusted to match revenue collection,” he noted.

“Therefore, in accordance with Section 25 of the Public Financial Management Act (PFMA) law, the quarterly expenditure ceilings of the approved budget will include up to a 20% downward adjustment, beginning in the first quarter of 2022 , in commitments across board for all covered entities benefiting from the 2022 Budget, subject to revenue performance,” Ken Ofori-Atta announced at a briefing.

He further stated that Ghana’s fiscal consolidation agenda will be primarily driven by the expenditure side with support from additional revenue.

Ghana’s Parliament has already approved government’s total expenditure for 2022, but the government, in a prudent fiscal consolidation move, has decided to cut down on its expenditure, up to a whopping 20%.

On the controversial e-levy, Ken Ofori-Atta said government officials will from Thursday, January 20, 2022, begin a nationwide public sensitization on the need for the introduction of the controversial e-levy.

According to him, officials, including himself, will personally engage citizens on the many policies and programmes the government will use the revenue accrued from the levy for.

 

 

 

–Pulse Ghana–

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