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Govn't exceeds spending in the last seven months Featured

Written by  Oct 23, 2015
Government has missed out slightly on the expenditure target in the last seven months. An estimated GHC23.7 billion projection made by government was missed slightly by GHC1billion between January to August. The figures meant that government spending was more than revenue mobilized. The excess spending were influenced by overruns in capital expenditure. In August, government spent GHC4.2 billion, as against the projected GHC2.9 billion. Government however managed to keep spending within its expenditure limits in most of the areas with the exception of capital expenditure. It is the hope of government to end 2015 with an expenditure target of GHC37 billion, according to its revised budgets. However with the latest fiscal numbers – which shows that it spent GHC25 billion as at August this year  it is not clear whether government will end this year with another high deficit or not. On the revenue side there was a lot to smile about, as government ended the month of August getting a little over GHC1 billion more than the GHC19 billion targeted.
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