We're checking our expenditure in this election year - Abena Osei-Asare

The Minister of State at the Finance Ministry, Abena Osei-Asare, has assured Ghanaians that the government is spending within its budget despite this year being an election year.

She stated that the government will also generate the needed revenue to stabilize the faltering economy.

Abena Osei-Asare noted that some policies implemented by the government to put the economy on a sound footing were yielding results thus far.

"The fiscal consolidation is holding as we are monitoring our expenditures. It is true that we are in an election year, but the government will contain the expenditure as approved by the 2024 budget, and also, we will ensure we raise the needed revenue to balance the tide," the Minister of State at the Finance Ministry said.

She added that the PC-PEG programme, with IMF support, has also witnessed growth that has turned out to be more resilient and robust.

She opined that inflation has declined, interest rates were falling, and the public debt has reduced.

Meanwhile, the former Minister of Finance, Ken Ofori-Atta, during the 2024 budget presentation, said the government was hoping to spend a total of GH¢226.7 billion in 2024.

This represents 21.6 percent of Ghana’s Gross Domestic Product (GDP).

Ken Ofori-Atta explained that the projection reflects a reduction of 6.1 percentage points of GDP in total expenditures (commitment basis) relative to the out-turn in 2022.



SA/MA