Gov’t clears GHc3.8 billion statutory debts

The government has settled about GHc3.8 billion statutory payments as of the end of the fiscal year December 31, last year.

The payments, the first time in many years, are in line with the Government Public Expenditure Management and Arrears Clearance programme as indicated in the 2015 Budget and Economic Policy of the government.

Deputy Minister of Finance, Mr. Cassiel Ato Baah Forson, said as a result of the budget and arrears clearance plan, various payments had been made to four institutions.

The District Assemblies Common Fund (DACF) had GHc1.5 billion while the Ghana Education Trust Fund (GETFund) had about GHc981 million, the National Health Insurance Fund (NHIF) received about GHc967 million while the National Pensions Regulatory Authority (NPRA) got GHc315 million.

In December, a total of GHc676 million was paid to DACF while GHc259 million was paid to the GETFund; this means that other statutory funds such as Tiers One and Two social security payments were also brought up to date.

In total, the Ministry of Finance made GHc3, 751, 017, 091.64 as payments to statutory funds in 2015.