Business News of Friday, 3 January 2025
Source: www.ghanawebbers.com
Ghana's 2025 Mini-Budget allocates GHS 2.34 billion for arrears clearance, aiming to settle outstanding obligations to contractors, suppliers, trainees, and other stakeholders.
Additionally, GHS 20.69 billion is earmarked for interest payments, including obligations to the Energy Sector Levy Account (ESLA) and Independent Power Producers (IPPs), reflecting the nation's debt burden and commitment to creditors.
The GHS 68.13 billion budget, approved by Parliament, funds government operations for Q1 2025, ahead of a comprehensive budget by the incoming Mahama administration. Projected revenue and grants for the period total GHS 42.54 billion (3.5% of GDP).
Despite political tensions, the budget ensures economic stability during the transition, with major allocations for employee compensation (GHS 16.46 billion) and capital expenditure (GHS 5.29 billion). Implementation remains critical as stakeholders monitor progress.