Parliament approves extra budget of almost GH˘3.2 billion
Posted on: 2014-Jul-22        
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Parliament has approved almost GH˘3.2 billion to further finance this year’s budget.

The amount is the supplementary estimates of government to fund its activities for the rest of the year.

In its report the Finance committee of Parliament noted that since the approval of this year’s budget last year, a number of pressures on the economy had hindered the attainment of targets set in the 2014 budget.

Some of the pressures include the continuing shortfall in tax and non-tax revenue and the depreciation of the cedi. It noted that the depreciating cedi had taken a toll on economic activity, public sector expenditure, and macro-economic variables.

Before the approval, the Minister of Finance, Seth Tekpeh said the trying condition the country is going through is not peculiar to Ghana alone.

He reiterated that the recovery of the economy will take time.

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