Parliament approves GH¢68.13 billion mini-budget for first quarter of 2025

Parliament on Thursday gave the green light to a GH¢68.13 billion Mini-Budget for the first quarter of 2025, presented by Finance Minister Dr. Mohammed Amin Adam.

This approval follows thorough deliberations by the Budget and Finance Committees of Parliament, ensuring that government operations will continue uninterrupted until the incoming administration presents a full budget.

After the Finance Minister presented the Expenditure in Advance of Appropriation for January to March 2025 to the House, Alban Bagbin, the Speaker, referred the proposal to a joint committee—the Budget and Finance Committees—for consideration and a report back to the House, in line with Article 180 of the 1992 Constitution and the Standing Orders of Parliament.

As approved, the budget will fund government operations for the first quarter of the year, pending the incoming administration’s presentation of a full budget for the remaining year.

As a constitutional requirement during transition years, the Mini-Budget will prevent fiscal disruptions and ensure a smooth transition of power. It will also address Ghana’s pressing fiscal needs while promoting economic stability.

Among the budget highlights was a Total Revenue and Grants projected at GH¢42.54 billion (3.5 percent of GDP), including GH¢40.67 billion in Domestic Revenue.

The report of the Joint Committee also cited GH¢1.87 billion in Tax Revenue, GH¢68.65 million in Grants, and GH¢1.04 billion from Social Security Contributions and other revenue sources.

For expenditure provisions, allocations will focus on critical government functions, including tax refunds (GH¢2.37 billion), healthcare, education, and infrastructure development.

During the approval process, an intense debate on the floor of the House underscored the contrasting views of both the Majority and Minority caucuses. Significant discussions revolved around spending priorities in healthcare, education, and infrastructure, as well as revenue mobilization strategies.

The approval of the Mini-Budget reflects Parliament’s commitment to averting a government shutdown amid concerns over delays in its presentation.

Meanwhile, despite earlier accusations by the Minority Caucus that the Finance Minister deliberately postponed the presentation, the Majority Caucus dismissed these claims, emphasizing the critical role the budget plays in maintaining government operations.

The passage of the budget signals a critical transition as President-elect Mr. John Dramani Mahama’s administration prepares to take office.