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Gov’t Releases GH¢1.0172Billion To Statutory Funds In 2012 backposted on Wed, 27 Jun at 11:17
The Government has released a total of GH¢1,017.2million (One Billion, Seventeen million, two hundred thousand Ghana Cedis) to statutory bodies to fund their operations during the first five months of the 2012 fiscal year.
The release comprises GH¢725.1million in respect of 2012 statutory transfers and GH¢292.1million 2011 transfers that spilled over into the 2012 fiscal year.
The releases represent 49.64% of projected estimated transfers to statutory funds in the 2012 budget.
A breakdown of the releases is as follows:
(i) District Assemblies Common (DACF)_______ GH¢481.69m
(ii) GETFund ________________________________ GH¢184.83m
(iii) National Health Insurance_______________ GH¢350.66m
A statement from the finance ministry says "The release of such funds to statutory bodies is an indication that government’s commitment of ensuring timely provision of resources to District and Metropolitan Assemblies for the implementation of projects and programmes is on course.
"This is in pursuit of government’s overall objective of achieving poverty reduction, removal of income distortions and ensuring the provision of basic infrastructure at the District and Municipalities of Ghana," it concluded.