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14.12.2005 Business & Finance

2006 budget to cost 38.972 trillion

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Accra, Dec 14, GNA - The government is to spend 38. 972 trillion cedis to finance its budgetary needs in 2006. The sum would be drawn from the consolidated fund and utilised from January first to 31st December 2006. This was revealed when Parliament on Wednesday unanimously passed the 2006 Appropriation Bill, a legislation that authorises the government to withdraw funds from the consolidated fund to meet its expenditure.

This springs from a constitutional provision of article 179 (2) that states that the estimates of expenditure of public offices and public corporation shall be included in an Appropriation Bill to be introduced in Parliament. Mr Kwadwo Baah-Wiredu moved for the third reading of the bill, which repeals the Appropriation Act 2005(ACT 688) when it becomes operational on January 01 2006.