The Government of Ghana under the leadership of President Nana Addo-Dankwa Akufo-Addo has Indicated that the government intends to spend an amount of GH¢226.7 billion in 2024.
According to the 2024 budget which was presented to the Parliament of Ghana by the Finance Minister earlier today indicated that the government is projecting to spend GH¢226.7 billion in 2024.
Paragraph 65 of the budget statement said” Total Expenditure (commitment) is projected at GH¢226.7 billion (21.6 percent of GDP). This projection reflects a reduction of 6.1 percentage points of GDP in total expenditures (commitment basis) relative to the outturn in 2022.
This large decrease comes from the combination of fiscal consolidation efforts of 4.9 percentage points of GDP, reflecting an adjustment in revenue by 1.0 percentage point and primary expenditure by 4.0 percentage point of GDP.
The potential interest rate saving from the ongoing external debt operation will further bolster public finance sustainability.”