Importance Of A Transitional Budget In An Election Year
The Minister of Finance Ken Ofori Atta Wednesday 28th October,2020 presented the transitional Budget to Parliament for the first quarter of 2021. During the presentation more than 27 billion Cedis was projected to be spent on key expenditure items such as compensation of public sector employees, ex-gratia awards, interest and amortization payments, transfers to statutory funds, critical programmes, goods and services and capital expenditure allocations to Ministries, Departments and Agencies prior to a drawing up of full budget for March next year. The Minister requested Parliament to approve the issuance of Sovereign Bonds of three Billion Dollars with the option to increase it to 5 billion dollars should market conditions prove favorable. Out of the amount one point five billion Dollars will be used to support the 2021 budget and three point five billion for liability management. The issuance of the 5 billion dollars Euro-bond will be the highest amount requested by Government ...