Government to spend ¢128.3bn in 2022 – Report
Ghana’s total expenditure in 2022 is projected at ¢128.3 billion which will be 25.8% of GDP. Data from the Ministry of Finance indicate that total expenditure (including payments for the clearance of arrears) is projected at ¢128.3 billion (25.8% of GDP) in 2022. This means government expenditure in 2022 is expected to increase by almost 13% relative to the ¢113.8 billion expenditure in 2021. In terms of revenue mobilization, government intend to raise an amount of ¢89.1 billion (17.9% of GDP) for 2022 and represents a nominal growth of 23% over the projected outturn for 2021. Further analysis shows that the overall budget deficit (including finsec and IPPs cost) is projected at ¢39.2 billion (7.9% of GDP) for 2022. The ministry also noted that for the second time in a row, interest payments are expected to be higher than compensation of employees. “Interest payments is projected at ¢37.2 billion (7.5% of GDP) in 2022”. Additionally, “compensation of employees is projected t...