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Business News of Friday, 14 November 2008

Source: GNA

Parliament approves GH¢2.2 billion for first quarter of 2009

Accra, Nov. 14, GNA - Parliament on Friday, through a resolution, approved an amount of GH¢2,218,506,931.00 billion, to carry out the services and expenditure of government from January to March 2009. Article 180 of the Constitution provides that, where it appears to the President that the Appropriation Act in respect of any financial year would not come into operation by the beginning of that financial year, he may, with the prior approval of Parliamentary resolution, authorize the withdrawal of money from the Consolidated Fund for the purposes of carrying out government business.

A Parliamentary Committee report read in Parliament said the amount needed was to cover statutory payments such as servicing external debts and discretionary payments such as personnel emoluments among others. It said an amount of GH¢635,896,749.00 was for statutory payments and GH¢1,582,610,183.00 for discretionary payments, bringing the total amount of government expenditure for the next quarter of 2009, to GH¢2,218,506,931.00.

"The Committee was informed that this would give the incoming administration the opportunity to make input into the budget of the 2009 financial year," the report added.

Meanwhile, Parliament would be rising this Friday to allow members the opportunity to return to their constituencies, ahead of the general election. The House is expected to reconvene on December 16, after the elections, to conclude outstanding businesses before the dissolution of this Parliament. 14 Nov. 08

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