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Business News Wed, 12 Nov 2008

Estimates for 2009 fiscal year expected to be read

Accra, Nov. 12, GNA - Dr Anthony Akoto-Osei, Minister of State at Ministry of Finance and Economic Planning is expected to move a motion in Parliament for the approval of estimates of the revenues and expenditure of government for the 2009 financial year. Additionally, a motion for the approval of expenditure in advance of appropriation for January to March, 2009 is also expected to be moved.

Although a new government is expected to take over the reins of governance early next year, the presentation of estimates for next year is expected to keep the business of the country running. Dr Akoto-Osei laid two papers on these estimates on Wednesday at the commencement of Public Business.

For the past couple of years, President Kufuor's administration has always read the budget ahead of the fiscal year unlike previous years in line with constitutional provision.

Earlier, the House approved several loan facilities for various projects including a credit agreement of 339 million dollars for the construction and equipping of two regional and six district hospitals. The hospitals to be constructed and equipped are, Wa Regional and Kumasi Regional hospitals, Wenchi, Salaga, Tepa, Twifo Praso, Adenta/Madina and Konongo Odumase district hospitals. A 17.1 million euro facility was also approved for the implementation of Koforidua water supply project. 12 Nov. 08

Source: GNA