Government invests GH¢28.9bn in growth projects this year — Minister
The government has invested about GH¢28.9 billion in various projects and programmes to spur growth and reduce the burden on the vulnerable in the country.
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In the road sector, for instance, the government has invested almost GH¢10 billion since January, this year, to enhance transportation, while some equipment have also been secured to complement the efforts of local authorities in improving community roads nationwide.
In addition, GH¢5.4 billion was disbursed to support the Livelihood Empowerment Against Poverty (LEAP), School Feeding Programme, Capitation Grant and the National Health Insurance Scheme (NHIS) since January, this year.
Also, about GH¢1.5 billion has been invested to support 1,488,575 students under the Free SHS Policy between January and June, this year.
Presenting the Mid-Year Fiscal Policy Review statement to Parliament last Wednesday, the Minister of Finance, Dr Mohammed Amin Adam, said about GH¢12 billion had also been paid to bondholders under the Domestic Debt Exchange Programme since February to demonstrate the government’s commitment.
Infrastructure projects
In line with the government’s commitment to infrastructure development, the minister said there was massive progress on projects such as the Komfo Anokye Teaching Hospital (KATH), Ofankor-Nsawam Road, Keta Water Supply, Obetsebi Lamptey and Flowerpot Interchanges; the three by-passes on the Kumasi-Accra Highway, and the Tema-Mpakadan Railway Line.
Furthermore, the minister said two airports - the Prempeh I International Airport in Kumasi and the Yakubu Tali International Airport in Tamale - had also been completed.
He added that projects under Agenda 111 Hospitals were at various stages of completion, while the Afari Military Hospital in Kumasi and many other hospitals across the country had also been completed.
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Programmes
To advance our digitalisation drive and expand the unique identification system, Dr Adam said the government had invested about GH¢135 million in the National Identification Programme since January, this year.
“Mr Speaker, this significant progress has been underpinned by an environment of enhanced and inclusive engagements with key stakeholders. These engagements have provided useful feedback, improved understanding and bolstered cooperation,” he said.
The minister said the government was determined to stay the course on the fiscal consolidation programme and, therefore, increased attention would continue to be given to prudent management of approved expenditures and improved revenue mobilisation.
He gave an assurance that the government would also continue with its programme of delivering critical physical and digital infrastructure.
To generate economic activity and increase growth, he said more focus would be placed on increasing the investments in the roads sector under the Economic Roads Improvement Programme (ERIP).
He was certain that the programme would ensure that roads were built to connect producing areas to market centres and key tourist sites.
Completion of roads
Accordingly, he said, the government was structuring a financial arrangement that would ensure the timely completion of some strategic roads such as the Accra-Kumasi highway, Accra-Takoradi Highway, Takoradi-Agona Nkwanta Junction and the Tema-Afienya road.
The Finance Minister also assured parliament that the government would work with the private sector to close the national housing deficit and optimise land use in urban areas.
He said Cabinet had also granted approval for the disbursement of an additional GH¢1.5 billion to provide relief and bailout for those whose funds had been locked up in the fund management companies, as well as the establishment of a framework for the re-introduction of Road and Bridge Tolls in 2025, the operationalisation of the integrated property tax system, and a review of the Fiscal Responsibility rules.