Home Headlines Appropriation Bill Empowers Government to Spend GH¢259.05 Billion in 2024

Appropriation Bill Empowers Government to Spend GH¢259.05 Billion in 2024

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Parliament has passed the Appropriation Bill, 2023, to allow Government to withdraw GH¢259.05 billion to meet its expenditure for the 2024 financial year.

The amount will be withdrawn from the Consolidated Fund and other public funds and for related matters.

The object of the Bill is to provide for appropriation for the year 2024.

This is in accordance with the constitutional requirement under paragraph (a) of clause (2) of Article 179 of the Constitution that estimates of expenditure of public offices shall be included in an Appropriation Bill to be Introduced in Parliament to provide for the issue of funds from the Consolidated Fund and other public funds to meet Government expenditure.

Pursuant to paragraph (a) of clause (2) of article 179 of the 1992 Constitution, a sum of money not exceeding GH¢259.05 billion shall be issued from the Consolidated Fund and other public funds during the financial year commencing on the 1st day of January, 2024 and ending on the 31st day of December, 2024 and shall be appropriated for the purposes specified in the First Schedule, which translates into the Third and Fourth Schedules, representing Ministries, Departments and Agencies and Other Government Obligations with their programmes.

The Bill permits certain Ministries, Departments, and Agencies (MDAs) to retain and use an amount of GH¢12.33 billion during the financial year commencing on the 1st day of January, 2024 and ending on the 31st day of December, 2024.

Touching on payment of money on authorisation of Minister responsible for Finance, the Bill indicates that the Controller and Accountant-General may, on a warrant issued on the authority of the Minister responsible for Finance, pay out of the Consolidated Fund and other public funds during the financial year ending on the 31st day of December 2024 any sum not exceeding the sum of GH¢259.05 billion.

Source: newscenta.com

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