It cost Gov’t GHS 12bn to manage Covid pandemic – Ofori-Atta tells Parliament

Making the assertion on the floor of Parliament on Wednesday, June 22, 2022, the Finance Minister noted an initial amount of GHS 11.16 billion was allocated for expenditures related to Covid-19, however, government ended up spending some GHS 8.12 billion by the end of 2020.

A total of GHS 12.04 billion has so far been spent by the government in its management of the Covid-19 pandemic.

This is according to the Minister for Finance, Ken Ofori-Atta.

Making the assertion on the floor of Parliament on Wednesday, June 22, 2022, the Finance Minister noted an initial amount of GHS 11.16 billion was allocated for expenditures related to Covid-19, however, government ended up spending some GHS 8.12 billion by the end of 2020.

According to him, government in 2021 spent GHS 3.9 billion out of the GHS 4.6 billion budgetary allocation, bringing the total Covid-19-related expenditure to GHS 12.04 billion.

Further addressing the House, the Finance Minister averred government has received in total, some GHS 19.3 billion as Covid-19 support for the 2020 budget.

Funding Sources for 2020 Budget

  • IMF – ¢5.85 bn
  • World Bank – ¢1.33 bn
  • EU – ¢504 m
  • AfDB – ¢405.7 m
  • Bank of Ghana – ¢10 bn
  • GOG Contingency Fund – ¢1.2 bn

Funding sources for 2021 Budget

According to the 2021 mid-year budget document, government also received ¢6.29 billion in the same year.

  • Government of Ghana – 4.51 bn
  • World Bank – 1.2 bn
  • Korea – 349 m
  • Germany – 281 m

Source: norvanreports.com

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