<<Print>>

Government has overspent its approved budgetary allocations in the last four years to the tune of over GH�7.2 billion, The Finder�s analysis of a statement issued by the opposition New Patriotic Party (NPP) has revealed. The economic team of the party led by Mr Yaw Osafo Maafo on Tuesday held a press conference on �Ghana�s Troubled Economy� and referred to, among others, details of over expenditure by government and its agencies. According to the statement, government in 2009, overspent its approved budget by GH�300 million; shooting up to GH�800 million in 2010. �The over-expenditure for 2011 was over GH�1.3 billion. In spite of this trend, the over-expenditure alone for last year could amount to a mindblowing GH�4.8 billion,� Mr Osafo Maafo said. Giving details of over spending by the ministries, departments and agencies (MDAs), the NPP disclosed that the ministry of interior over-run its budget to the tune of GH�19million while that of the Ministry of Health was GH�27 million. According to the statement, the ministries of Education and that of Environment, Science & Technology overshot their budgets by GH� 60million each while the Ministry of Energy spent GH�70 million beyond its allocation. The Ministry of Roads and Highways overstretched its budget by GH�270 million while the Ministry of Youth and Sports spent GH�350million. Mr Osafo Maafo stated that the office of government machinery over-run its allocation by GH�650 million while GH�200 million was given to the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA); in addition to �GH�15 million for guinea fowl business and GH�33 million for tree planting, all in the name of SADA.�In spite of the over expenditure, the NPP further alleged that government was hugely indebted to many state owned enterprises (SOEs) to the tune of over GH�3.1 billion. �As at the end of December last year, government�s indebtedness to such petroleum sector entities as BOST, GNPC, TOR, NPA, GNGC, PC amounted to GH�1.5 billion,� the statement said. The utility-related agencies such as the Volta River Authority (VRA), Electricity Company of Ghana (ECG), and the Ghana Grid Company (GRIDCO) were owed in excess of GH�1.6 billion, it maintained. �This figure does not include the total of GH�796 million illegal fuel price margins the court ordered government to refund to the consolidated fund,� Mr Maafo said. �Government�s indebtedness to SOE�s which stands at GH�3.1billion and arrears to goods and services providers which stands at GH�5.4 billion bring all to a total of GH�8.5 billion. Therefore, it is tragic but not surprising that the public utility companies and businesses are collapsing, bringing with it job losses and rising unemployment,� the NPP said.