Contrary to assertions by critics, particularly the opposition, that the government is not spending, the Finance Minister asserts that they are indeed spending, and doing so in the right places.
Delivering the 2025 Mid-Year Budget review on Thursday, July 24, he revealed that the government has made substantial payments, including Eurobonds, energy sector, free Senior High School allocation, National Health Insurance Scheme, vaccines, and essential medicines, among others.
He revealed that $700 million in Eurobond obligations has been paid, GH¢10 billion to domestic bondholders has also been paid, and GH¢2.9 billion to the District Assemblies Common Fund (DACF) has been paid.
Additionally, GH¢2.7 billion has been paid to the Social Security and National Insurance Trust (SSNIT), GH¢9.1 billion has also been paid to the energy sector for stable power supply, GH¢5 billion in arrears has been paid, and GH¢4.6 billion has also been paid to the Ghana Education Trust Fund (GETFund).
“So far, from January to June, total cash of GH¢114.5 billion has been paid from the Consolidated Fund”, he mentioned.
“We have also worked to improve the fiscal situation; ii. restore fiscal discipline; implement appropriate policies to reduce interest rates significantly, thereby reducing the cost of borrowing; and save on domestic interest payments following the implementation of our prudent debt management policies”, he added.
