Ghana’s Parliament on Wednesday, under a certificate of urgency, passed the Appropriation Bill, authorizing the utilization of Ghc19.9 billion from the Consolidated Fund and other funds to meet government’s expenditure for the 2012 fiscal year.
Thus, after debate on the budget estimates of Ministries, Departments and Agencies (MDAs), and in accordance with constitutional requirement under Article 179 (2) of the 1992 Constitution, Government is to appropriate an amount of GHc19,935,767,331 during the financial year commencing January 1, ending December 31, 2012.
Out of this projected amount, GHc11,817,167,748 would be used for the payments of recurrent expenditure, GHc5,697,910,350 for Capital expenditure and GHc2,420,689,233 would go to service other payment, including road arrears, non-road arrears, tax refunds and amortization.
Also, GHc1, 140,990,000 of Internally Generated Funds (IGF) would be retained by the MDAs during the 2012 financial year.
The House, which worked late into the evening also approved three financial agreements for social interventions and infrastructural upgrade in the Eastern region.
These included approval of Supplementary Mixed Credit Agreement between the Government of Ghana and Bank Hapoalim of Israel for an amount of 113.5 million dollars for the implementation of the rehabilitation and expansion of the Kumawu, Konongo and Kwahu Ridge Water Supply Project.
The house also approved Credit Facility Agreement between the Government of Ghana and the UniCredit Bank, Austria, AG for an amount of 7.9 million Euros for the rehabilitation and expansion of water supply to Anyinam, Apedwa, Kibi, Kwabeng and Osenase, as well as a Loan Agreement between Ghana and the UniCredit Bank Austria AG for an amount of 12.9 million Euros to fiancé the rehabilitation of the Adomi Bridge. GNA