GHC20bn allocated for interest payments on ESLA, IPPs
The Chairman of the Finance Committee, Patrick Boamah, has disclosed that an amount of GHC20 billion has been earmarked in the 2025 Mini-Budget for interest payments, including obligations to Independent Power Producers (IPPs) and the Energy Sector Levy Account (ESLA).
“The Committee noted that projections in respect of interest payments amounted to GHC20,691,523,500.00. The amount includes payments to the Energy Sector Levy Account (ESLA) and Independent Power Producers (IPPs),” Boamah stated during a parliamentary session on the budget approval.
Despite the delay in presenting the mini-budget, Finance Minister Dr. Mohammed Amin Adam assured the Joint Committee on Budget and Finance that the delay would not adversely impact government operations.
He emphasized that measures were in place to guarantee the smooth functioning of public services during the transitional period.
This development follows Parliament’s approval of the 2025 Mini-Budget, amounting to GHC68.13 billion. The budget is intended to cover government operations for the first quarter of 2025, pending the presentation of a comprehensive budget by the incoming Mahama administration.
The approved expenditure also projects total revenue and grants for the first quarter of 2025 at GHC42.54 billion, representing 3.5% of Ghana’s GDP.
Parliament’s approval came after extensive deliberations and scrutiny at the Finance Committee level. The discussions highlighted key concerns, including debt management, revenue mobilization, and the government’s fiscal consolidation efforts.
The 2025 Mini-Budget represents a crucial tool to stabilize the economy and sustain critical services during a politically transitional period.