Govt fulfils commitment to transfer of resources

Accra, Nov. 4, GNA- The Government has so far lived to its commitment in the transfer of resources to the District Assemblies Common Fund (DACF) and the Ghana Education Trust Fund (GETFUND) for the period up to September 2003.

A total of 545.4 billion cedis has been transferred into the GETFund. This is made up of 138.4 billion cedis in respect of the fourth quarter of 2002 (October, November and December 2002) and a total of 407.0 billion cedis has been released for the months of January to August 2003.


Mr Yaw Osafo-Maafo, Minister of Finance and Economic Planning said this on Tuesday when he moved for a Motion in Parliament to present the Review of the Economic performance of the Government. He said the government made a commitment in the 2003 budget to be current in the transfer of resources to the two Funds and it has so far lived by that commitment.


The Minister said the transfer for September, which was due at the end of October 2003, has already been approved.

Mr Osafo-Maafo said with regard to the Common Fund, transfers for three quarters totalling 403.8 billion cedis has been effected rendering current payments for 2003 and the transfer for the fourth quarter will be effected on schedule.


In addition to the current transfers for 2003, amounts of 43.1 billion cedis and 53.9 billion cedis will be transferred to the GETFund and the DACF respectively.


The Minister said this represents this year's clearance of accumulated arrears as at the end of September 2003, On personal emoluments, he said the outturn from January to July 2003 amounted to 3,063.3 billion cedis as against a budget of 3,179.2 billion cedis showing an under expenditure of 115.9 billion cedis. He said this under expenditure may, however be temporary as there are some substantial amounts of salary increments, especially for subvented organisations that were yet to be posted to government accounts.