The Minister of Finance, Mr Ken Ofori-Atta, will, today, Wednesday, 28 October 2020, present to Parliament an advanced budget covering government spending for the first quarter of 2021.
The budget, termed Expenditure in Advance of Appropriation, will cover the period January 1, 2021, to March 31, 2021.
The Expenditure in Advance of Appropriation is a standard practice rolled out in election years to prevent transitional challenges in the smooth running of government for the first three months in the year after elections.
The government, in July this year, requested Parliament to approve an additional GHS11.8 billion to support the government’s expenditure for the rest of the year 2020.
This was because the government’s projections for the 2020 financial year were, according to the Finance Minister, affected by the Coronavirus pandemic.