Finance Minister, Mr. Ken Ofori-Atta has announced that the total amount of GH¢73.4 billion would be spent in 2019.
Presenting the 2019 budget in parliament today, he said the total expenditure which includes the clearance of arrears is equivalent to 21.3 percent of GDP, representing a growth of 27.0 percent above the projected outturn for 2018.
The minister revealed that GH¢19.4 billion representing about 26.5 percent of the total amount is allocated for expenditure on wages and salaries.
He believes the wage bill will be reduced to 5.6 percent of GDP from the 5.9 percent projected outturn for 2018 and goods and Services is budgeted at GH¢6.3 billion, representing 1.8 percent of GDP.
“The annual growth of 38.8 percent reflects a full provision made to cater for the Government’s priority programmes, including the flagship Free SHS policy,” he read.
Mr. Ofori-Atta further stated that GH¢18.6 billion is for interest payments of public debt.