The Parliament of Ghana has approved the 2024 budget statement and economic policy.
The budget was approved after a head count today [Thursday, December 7, 2023].
At the end of the headcount, 138 members voted ‘Yes’ while 136 members voted ‘No’.
One MP from the Minority side, James Gyakye Quayson, was the only absentee.
On Wednesday, November 29, 2023, the Majority in Parliament walked out of the house during a heated discussion to approve the budget, necessitating a reschedule to today.
They cited the conduct of the Speaker, Alban Bagbin, as the reason for the walkout.
They further accused the Speaker of employing delay tactics to ensure that members on the Minority side who were not in the chamber could rush in to be counted after the Speaker had demanded that members stand after their names were mentioned to be counted.
The 2024 budget puts government spending at GH¢226.7 billion in 2024, 23% higher than the GH¢183.9 billion revised estimates by the Finance Ministry for 2023.
At the same time, revenues and total grants for 2024 are projected at GH¢176.4 billion, which leaves a fiscal deficit of GH¢ 50.1 billion, equivalent to 4.8 per cent of GDP.