2019 budget review: Parliament approves GH₵6.3 billion supplementary estimates

2019 budget review: Parliament approves GH₵6.3 billion supplementary estimates
Source: Ghana |Myjoyonline.com | Akyena Brantuo | benjamin.brantuo@myjoyonline.com
Date: 31-07-2019 Time: 04:07:56:pm

Parliament has approved the GH₵6.3 billion requested by the  Finance Minister, Ken Ofori-Atta, for extra expenditure for the 2019 financial year. 

This was in spite of opposition from the Minority. 

Joy News’ Kwesi Parker-Wilson reports from Parliament, this was done through a Majority voice vote. 

Meanwhile, the Parliament’s  Finance Committee has been tasked to deliberate on proposed tax increases which accompanied the supplementary estimates and present a report for the House’s consideration. 

The House which currently is on an hour’s break, will return to consider the proposed tax increment. 

Mr. Ofori-Atta told the Legislature on Monday, these are part of measures to help improve governments revenue for development and help improve the livelihood of Ghanaians. 

He said as a result of revisions to the 2019 fiscal framework, “the 2019 Appropriation of ¢78,771,833,602.12 that was approved by this august House in November 2018 will not be adequate to cater for the additional programmed needs which will increase the total Appropriation to ¢85,142,189,527.94,” he said.

Mr Ofori-Atta said government is, therefore, requesting Honourable Members to consider and approve an amount of ¢6,370,355,925.82 as supplementary estimates to the original Appropriation of ¢78,771,833,602.12 to bring the revised total Appropriation for the 2019 Fiscal Year to ¢85,142,189,527.94. 

He added, “Consistent with Article 179 (8) of the Constitution, the request for a supplementary estimate is necessitated by additional precautionary expenditures in response to regional security developments and the amortisation of contingent liabilities associated with take-or-pay contracts which have crystallised.”