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Parliament Approves GHC10.9b For Govt Expenditure 2017

Parliament has approved GH¢10.9 billion for government expenditure for the first quarter of 2017.

The money will be used for the payment of salaries, service interest on loans among other critical financial endeavors.

About GH¢2 billion will be used to pay for interests on loans, GH¢2.3 billion for grants to government agencies, while about GH¢4 billion will be used to pay for salaries and compensation government employees.

The budget presentation became necessary because of the December 7, polls and the need to prevent overspending in case of a transition in government.

The finance minister in July this year sought approval from parliament to spend an additional 1.8 billion Cedis for the remaining of 2016.

Source: radioxyzonline.com

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