Cassiel Ato Forson
Government debt recorded at the end of December 2024 amounted to GH¢ 67. 5 billion representing 5.2% of GDP with the road sector accounting for GH¢21 billion.
Finance Minister, Cassiel Ato Forson, who made this known during a presentation of the budget in Parliament today said to ascertain the total arrears, and outstanding claims for all MDAs, the Ministry of Finance formally requested the MDAs on January 28, 2025 to submit information on all outstanding claims as at end-2024.
“The responses from the MDAs and the validation revealed that a staggering amount of GH¢67.5 billion is owed to government contractors and suppliers,” he said.
“This consists of MDA outstanding Interim Payment Certificates and invoices of GH¢49.2 billion and outstanding Bank Transfer Advice of GH¢18.3 billion at the Controller and Accountant-General’s Department”.
He said the total central government arrears payables exclude the US$1.73 billion owed to Independent Power Producers (IPPs); GH¢68 billion owed by the Electricity Company of Ghana (ECG); GH¢32 billion owed by the Ghana Cocoa Board (COCOBOD); and GH¢5.75 billion owed by Road Fund.
The Finance Minister also stated that as part of measures to address the mounting accumulated arrears the government has commissioned an audit of the arrears and guarantee value for money before payment.
By Ebenezer K. Amponsah