Covid-19 expenditure: ¢12bn spent between 2020 and 2021 – Ofori-Atta

Covid-19 expenditure: ¢12bn spent between 2020 and 2021 – Ofori-Atta

The Finance Minister, Ken Ofori-Atta, has announced that a total of ¢12.04 billion has been expended so far on Covid-19.

According to figures put out by the Finance Minister in his address to Parliament on Wednesday, June 22, an amount of ¢11.16 billion was allocated for expenditures related to Covid-19.

However, government ended up spending ¢8.12 billion by the end of 2020.

Covid-19 expenditure: Government spent ¢12bn between 2020 and 2021 – Ofori-Atta
Breakdown of expenditures on Covid-19 – Photo source: Finance Minister’s speech to Parliament

He said in 2021, government spent ¢3.9 billion out of the ¢4.6 billion budgetary allocation, bringing the total Covid-19-related expenditure to ¢12.04 billion.

Ken Ofori-Atta said government had received a total of ¢19.3 billion as Covid-19 support and had spent ¢12.04 billion on all Covid-19-related expenditures.

What’s contained in previous budget documents

In terms of Covid-19-related expenditure, JoyNews’ checks from the 2021 mid-year budget review and the 2022 budget statement revealed that an amount of ¢10.77 billion was released by the Finance Ministry between 2020 and 2021 (January-September).

A breakdown of these figures indicate that government released ¢8.122 billion in 2020 and an additional ¢2.65 billion in 2021, from January to September.

During his address, the Minister revealed that the total release for the year ending 2021 was ¢3.9 billion, bringing the total expenditure for 2020 and 2021 to GH¢12.02 billion.

In the arena of Covid-19 funding, according to data contained in the 2021 mid-year budget, government also received ¢19.3 billion in 2020 as budget support, following the impact of the pandemic.

Funding Sources for 2020 Budget

  • IMF – ¢5.85 bn
  • World Bank – ¢1.33 bn
  • EU – ¢504 m
  • AfDB – ¢405.7 m
  • Bank of Ghana – ¢10 bn
  • GOG Contingency Fund – ¢1.2 bn

Funding sources for 2021 Budget

According to the 2021 mid-year budget document, government also received ¢6.29 billion in the same year.

  • Government of Ghana – 4.51 bn
  • World Bank – 1.2 bn
  • Korea – 349 m
  • Germany – 281 m

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