On Saturday, Parliament passed the Appropriation Bill, 2023, enabling the Government to withdraw GH₵ 259.05 billion to cover its expenditures for the 2024 financial year.
The funds will be drawn from the Consolidated Fund and other public funds, in accordance with the constitutional requirement outlined in paragraph (a) of clause (2) of Article 179 of the Constitution. This clause mandates that estimates of public office expenditures be included in an Appropriation Bill for parliamentary approval.
As specified by paragraph (a) of clause (2) of Article 179, an amount not exceeding GH₵ 259.05 billion will be issued from the Consolidated Fund and other public funds during the financial year from January 1, 2024, to December 31, 2024.
The funds will be allocated for purposes outlined in the First Schedule, which corresponds to the Third and Fourth Schedules, representing Ministries, Departments, and Agencies, along with other government obligations and their respective programs.
Additionally, the Bill allows certain Ministries, Departments, and Agencies (MDAs) to retain and utilize an amount of GH₵12.33 billion during the financial year from January 1, 2024, to December 31, 2024.