https://en.sputniknews.africa/20250104/ghana-avoids-government-shutdown-with-provisional-budget-approval-1070031558.html
Ghana Avoids Government Shutdown With Provisional Budget Approval
Ghana Avoids Government Shutdown With Provisional Budget Approval
Sputnik Africa
About one-third of the approved budget is allocated to payments for energy-sector service providers, addressing a sector grappling with significant challenges... 04.01.2025, Sputnik Africa
2025-01-04T15:40+0100
2025-01-04T15:40+0100
2025-01-04T15:40+0100
sub-saharan africa
ghana
john mahama
energy
west africa
budget
economy
lawmakers
parliament
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Ghana’s Parliament has narrowly averted a government shutdown by approving a provisional budget of 68.1 billion Ghanaian cedis (about $4.64 billion) to fund state operations through March.The budget approval was announced by Parliamentary Speaker Alban Bagbin following a late-night session on Thursday, according to reports.The decision provides a lifeline for government functions and ensures continuity as the West African nation prepares for a presidential transition. John Dramani Mahama, who won the December 7 election, is set to take office next week, marking a political comeback after serving as Ghana’s president from 2012 to 2016.A provisional budget is typically approved in November during election years to bridge the gap until a new administration assumes power. However, this year’s process was delayed due to a contentious dispute over parliamentary majority control between the outgoing New Patriotic Party and the incoming National Democratic Congress.Finance Minister Mohammed Amin Adam reportedly assured lawmakers that the delayed approval would not disrupt government operations. Former Finance Minister Seth Terkper emphasized to a Western media outlet the significance of the decision, noting that it averted a shutdown and alleviated risks to Ghana's ongoing debt challenges.Mahama takes office amid cautious optimism for economic recovery following Ghana’s financial crisis.
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ghana, john mahama, energy, west africa, budget, economy, lawmakers, parliament
ghana, john mahama, energy, west africa, budget, economy, lawmakers, parliament
Ghana Avoids Government Shutdown With Provisional Budget Approval
Christina Glazkova
Writer / Editor
About one-third of the approved budget is allocated to payments for energy-sector service providers, addressing a sector grappling with significant challenges. President-elect Mahama recently emphasized the urgency of resolving these issues, noting that arrears had surpassed $2.5 billion and warning of persistent power supply disruptions.
Ghana’s Parliament has narrowly averted a government shutdown by approving a provisional
budget of 68.1 billion Ghanaian cedis (about $4.64 billion) to fund state operations through March.
The budget approval was announced by Parliamentary Speaker Alban Bagbin following a late-night session on Thursday, according to reports.
The decision provides a lifeline for government functions and ensures continuity as the West African nation prepares for a presidential transition. John Dramani Mahama, who
won the December 7 election, is set to take office next week, marking a political comeback after serving as Ghana’s president from 2012 to 2016.
A provisional budget is typically approved in November during election years to bridge the gap until a new administration assumes power. However, this year’s process was delayed due to a contentious dispute over parliamentary majority control between the outgoing New Patriotic Party and the incoming National Democratic Congress.
Finance Minister Mohammed Amin Adam reportedly assured lawmakers that the delayed approval would not disrupt government operations. Former Finance Minister Seth Terkper emphasized to a Western media outlet the significance of the decision, noting that it averted a shutdown and alleviated risks to Ghana's ongoing debt challenges.
Mahama takes office amid
cautious optimism for economic recovery following Ghana’s financial crisis.
