Parliament has passed the Appropriation Bill,2017 to enable the withdrawal of monies from the Consolidated Fund and other funds for the running of the State during the financial year commencing on the 1st day of January and ending on 31st day of December 2017.
“The House, having approved various sums as Budget estimates for Ministries, Departments and Agencies of government, it has become imperative that the Minister for Finance be given authority to withdraw such approved funds for the purposes thereof.” The report of the Finance Committee on the Appropriation Bill,2017 revealed.
According to the report the Ghc64,116,793,031 to be issued from the Consolidated Fund and other funds during during the financial year is for the purposes of meeting government expenditure.
The MDAs shall be permitted to retain and use an amount of Ghc2,204,808,044 of Internally Generated Funds(IGFs)during the 2017 Financial year.
Out of the total amount of Ghc64,116,793,031 estimated expenditure in 2017, the Committee noted that Ghc38,517,821,802 would constitute payments of Other Government Obligations whilst the rest would cover discretionary payments.