The Finance Minister, Seth Terkper will be presenting the mid-year review of the government’s 2016 budget today in Parliament and also table a supplementary budget for approval.
Presenting the 2016 budget in November last year, the Finance Minister said the government will be disciplined in its expenditure and promised not to overspend in the election year.
But the supplementary budget is likely to make room for some ‘political’ expenditure such as the recently restored nurses’ allowances, among others.
Mr. Terpker is likely to announce the new debt stock of the country, now standing at GH¢105 billion.
When the ruling National Democratic Congress government took over power in 2008, Ghana’s debt stock was GH¢9.5 billion and within eight years it has shot up to GH¢105 billion.
The Minority New Patriotic Party (NPP) in Parliament will scrutinize the supplementary budget with ‘eagle’ eyes.
The government budgeted a little over GH¢44 billion for the 2016 fiscal year.
By Thomas Fosu Jnr