Government would generate “No New Money”; Supplementary Budget unnecessary – Seth Terkper


Former Minister of Finance and Economic Planning Seth Terkper is questioning the relevance of the recently approved supplementary budget.

This according to him is because the supplementary budget would not lead to the generation of fresh revenue or borrowing.

According to him, supplementary budgets are usually intended to seek parliamentary approval to seek money for expenditure that was not intended in the main budget.

Speaking in an interview with Ama Pratt on Pan African Television Seth Terkper said the supplementary budget would bring in no money.

The former Finance minister said over GH₵11billion of the GH₵16 billion for which government has gotten approval is money that government has already contracted and spent in COVID-19 related expenditures.

To raise the remainder of the GH₵16 billion, Seth Terkper said government planned to reduce the budgets of some key sectors of the economy including money allocated to the National Health Insurance.  

He believes government could have made do with the mid-year budget review and insisted the supplementary budget was not necessary.

Story: Sena Nombo/Radiogoldlive.com

Sena Nombo | Radiogoldlive.com

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