Finance Minister, Dr. Cassiel Ato-Forson, has indicated that contrary to the perception that the government is not spending, it is indeed spending and spending at the right places.
According to him, the government is making the right investments.
He pointed out that an amount of US$700 million as Eurobond obligations has been paid, an amount of GH¢10 billion to domestic bondholders has also been paid and an amount of GH¢2.9 billion to the District Assemblies Common Fund (DACF) has been paid.
Similarly, he said an amount of GH¢2.7 billion has been to Social Security and National Insurance Trust (SSNIT), GH¢9.1 billion has also been paid to the energy sector for stable power supply, an amount of GH¢5 billion of arrears has been paid and GH¢4.6 billion has also been paid to the Ghana Education Trust Fund (GETFund).
Likewise, the Finance Minister said non-interest expenditures of GH¢84.2 billion have been paid.
“So far, from January to June, total cash of GH¢114.5 billion has been paid from the Consolidated Fund”, he mentioned.
“We have also worked to improve the fiscal situation; ii. restore fiscal discipline; implement appropriate policies to reduce interest rates significantly, thereby reducing the cost of borrowing; and save on domestic interest payments following the implementation of our prudent debt management policies”, he added.
He concluded, however, that there is still more work to be done, highlighting, that President Mahama is determined to deliver.
Credit: Joy Business
