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Dec 23, 2011

Parliament approves Appropriation Bill

Dr. Kwabena Duffuor, the Minister of Finance and Economic Planning, says Parliament has passed the Appropriation Bill, 2011 to approve and authorize the government to withdraw GH¢19,935,767,331.00 from the Consolidated Fund and other public funds to meet its expenditure for 2012.

He said out of the total amount of GH¢19,935,767,331.00 payments projected in 2012, GH¢11,817,167,748 will constitute payments for recurrent expenditure, GH¢5,676,910,350 for capital expenditure and GH¢2,420,689,233 for other payments, including arrears, non-road arrears, tax refunds and amortization.

Dr. Duffuor made this known in Accra and placed the bill before the House pursuant to Article 179 of the Constitution on behalf of the President to request Parliament to approve and authorize the withdrawal of the monies from the Consolidated Fund and for the withdrawal from other funds for the running of the state during 2012.

Meanwhile, the House on Wednesday approved three loans before it went on recess for the Christmas festivities.

The loans were a 7.9 million euros credit facility from the Uni-credit Bank, Austria AG for the rehabilitation and expansion of the water systems of Anyinam, Apedwa, Kibi, Kwabeng and Osenase, all in the Eastern Region, a 12.9 million euros credit from the same bank to finance the rehabilitation of the adomi Bridge and a $1113.5 million loan for the rehabilitation and expansion of the Kumawu, Konongo and Kwahu Ridge Water Supply Projects.

Source: ISD