Gov’t allocated GHS 63bn to promote SDG 8 in 2022

Ghana’s 2022 Sustainable Development Goals (SDGs) Budget and Expenditure Report has unveiled that the government directed GHS 63 billion towards promoting decent work and sustainable economic growth in 2022.

The Ministry of Finance spearheaded the voluntary national review of the SDGs, tracking allocations and expenditures.

In the pursuit of fostering sustainable economic growth and employment opportunities for all, the government earmarked GHS 63 billion for SDG 8, with actual expenditures amounting to GHS 55 billion.

Analysis of the report indicated that a significant portion of the GHS 63 billion was utilized to fund the expansion of the Port of Tema and the continuation of projects at the Boankra Integrated Logistics Terminal. Furthermore, the construction of two Transit Truck Parks in Paga and Elubo was undertaken.

An investment of about GHS 564.6 million was directed towards supporting Micro, Small, and Medium Enterprises (MSMEs) through the Ghana Enterprises Agency.

The Microfinance and Small Loans Centre (MASLOC) disbursed a total of GHS 2.32 million to 1,247 micro-credit beneficiaries and GHS 248,000 to 13 small loan beneficiaries.

Additionally, GHS 63 million was allocated to Metropolitan, Municipal, and District Assemblies (MMDAs), with the highest allocations distributed to the Volta, Central, and Eastern regions.

The report emphasized that Sustainable Development Goal 8 emerged as the most heavily invested goal among the 17 SDGs, showcasing the government’s commitment to fostering sustainable economic growth.

 Source: Norvanreports