Govt clears GH¢3.8b statutory debts

The government has settled about GH¢3.8 billion statutory payments as of the end of the fiscal year December 31, last year.

The payments, the first time in many years, are in line with the Government Public Expenditure Management and Arrears Clearance programme as indicated in the 2015 Budget and Economic Policy of the government.

Deputy Minister of Finance, Mr Cassiel Ato Baah Forson, said that as a result of the budget and arrears clearance plan, various payments had been made to four institution.

The District Assemblies Common Fund (DACF) had GH¢1.5 billion, while the Ghana Education Trust Fund (GETFund) had about GH¢981 million, the National Health Insurance Fund (NHIF) received about GH¢967 million, while the National Pensions Regulatory Authority (NPRA) got GH¢315 million.

In December, a total of GH¢676 million was paid to DACF while GH¢259 million was paid to the GETFund, this means that other statutory funds, such as tiers One and Two social security payments, were also brought up to date.

In total, the Ministry of Finance made GH¢3,751,017,091.64 as payments to statutory funds in 2015.

Credit:  Daily Graphic