BTA2023 Parliament has greenlit a total of GH¢68,134,674,527 as Expenditure in Advance of Appropriation to fund public services from January to March 2025. This allocation, drawn from the Consolidated Fund, will support government operations until the annual budget for 2025 is reviewed and approved.
Key Allocations
The approved budget breaks down as follows:
- Employee Compensation: GH¢16.46 billion
- Goods and Services: GH¢3.12 billion
- Interest Payments: GH¢20.69 billion
- Subsidies: GH¢45.50 million
- Grants to Other Government Units: GH¢9.19 billion
- Social Benefits: GH¢234.70 million
- Other Expenditures: GH¢9.46 billion
- Capital Expenditure: GH¢5.29 billion
- Arrears Clearance: GH¢2.34 billion
- Amortization: GH¢1.28 billion
Highlights of the Debate
The motion for the mini-budget, presented by Finance Minister Dr. Mohammed Amin Adam on January 2, 2025, was referred to the Joint Committee on Budget and Finance for review.
According to the committee’s report, GH¢20.69 billion is earmarked for payments under the energy sector levy and to settle obligations to independent power producers. Additionally, GH¢1.28 billion is allocated for liabilities due in the quarter.
Revenue Projections
For the first quarter, the government anticipates total revenue and grants of GH¢42,543,337,219, equivalent to 3.5% of GDP. This includes:
- Domestic Revenue: GH¢41,874,679,344
- Grants: GH¢668,657,875
Domestic revenue is further broken down as:
- Tax Revenue: GH¢35,822,933,519
- Non-Tax Revenue: GH¢4,764,883,797
- Social Security Contributions: GH¢247,474,555
- Other Revenue: GH¢1,039,387,473
Tax refunds during the period are projected at GH¢2,371,461,744.
This comprehensive financial strategy underscores the government’s commitment to maintaining fiscal discipline while ensuring critical sectors receive the funding necessary to drive growth and stability in the first quarter of 2025.
