The Minister of Finance and Economic Planning, Dr. Kwabena Duffour has laid before Parliament an interim 2013 budget for the necessary consideration and approval.

The budget will be estimates or accounts that will only cover the first quarter of next year.

This is actually not the budget for next year, but a temporary provision to ensure that government business does not grind to a halt in the first months of 2013.

Dr. Duffour tells Joy Business he is hopeful of getting the necessary approval.

Meanwhile, the Finance Minister has rebuffed arguments that recent bond auctions have been heavily oversubscribed because of high returns given to investors.

Government through the Bank of Ghana today began auctioning a three year bond to raise 500 million Ghana cedis.

Analysts have argued that recent bonds would not have witnessed such high investor appetite, but for the returns that were offered. But Dr. Duffour disagrees.

Government in its last issue offered investors about 23 percent returns, which is the highest in a long while.

Meanwhile, Joy Business has learnt proceeds from the bonds would be used to pay off 91 and 182 day treasury bills to lengthen its maturity dates.

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