Government paid nearly GH¢29 billion in arrears against GH¢13 billion budget – Economist

The government paid nearly GH¢29 billion in arrears in 2025, more than double the GH¢13 billion it had budgeted for the exercise, Technical Advisor to the Finance Minister, Dr Theo Acheampong, has said.

He said the figures showed that the government had spent more than initially planned to clear outstanding payments while continuing to meet other expenditure obligations.

President Mahama eyes Afienya for Ghana's industrial expansion

Speaking to Joy News on Thursday, October 15, 2026, Dr Acheampong urged the public to consider figures in the government’s budget and fiscal reports when assessing complaints about delayed payments to contractors and other service providers.

“If you look at the last budget, we had budgeted GH¢13 billion of arrears. At the close of the financial year, we had paid close to about GH¢29 billion,” he said.

He explained that payments were subject to checks under the government’s commitment authorisation system, which requires claims to be reviewed and approved before funds are released.

Although he acknowledged that some of the processes could be completed faster, he maintained that the checks were necessary to protect public funds.

“The minister has to make sure that every cedi that he is paying out, there is a justifiable basis for paying that out,” Dr Acheampong said, adding that seeking a second review of questionable claims was legitimate.

He further explained that approval by the Ministry of Finance did not necessarily mean the money would immediately reflect in a contractor’s or beneficiary’s bank account, as further processing by the Controller and Accountant-General’s Department and the Bank of Ghana could be required.

Dr Acheampong said some historical claims were still undergoing verification because of the complexity of the issues involved.

He added that the outstanding arrears being addressed were largely inherited liabilities rather than new obligations, insisting that payments for verified claims were being processed.

ANAS/MA

How a Visit to GHACEM Inspired Ibrahim Mahama to Build Dzata Cement