The Ministry of Finance has commenced the Composite Budget Hearing in the Upper West Region towards the preparation of the 2023 budget.
The budget hearing held in Wa for the Wa Municipal, Wa West, and Daffiama-Bussie-Issa Districts afforded stakeholders and members of the public the opportunity to assess the budget of the various assemblies.
The various assemblies presented the budget estimates and expenditures for the 2022 financial year as well as the estimates for the 2023 to 2026 financial years as part of the budget hearing.
Speaking at the opening of the budget hearing, the Minister of Finance, Mr Ken Ofori-Atta, in a speech read on his behalf by the Upper West Regional Coordinating Director, Mr Peter Maala, commended the assemblies and the stakeholders for their commitment to the budget preparation process.
He urged them to exhibit the same commitment and zeal in the budget implementation process and to support the government in recovering the economy.
“You will bear with me that we are not in normal times and this year is peculiar in view of the challenges the global and domestic developments have had on our economy and the negative effects on revenue mobilization.
That notwithstanding, I am certain that your commitment to fiscal responsibility in this difficult time will help us manage the situation and return to a path of economic growth and fiscal consolidation”, the Finance Minister explained.
Mr Ofori-Atta explained that the economic challenges being experienced now as a result of the global crisis may transcend into the 2023 fiscal year and called for improved internal revenue mobilization measures to augment the government cash transfers such as the District Assembly Common Fund.
He also urged the assemblies to prioritise the allocation of resources to strategic and critical programmes in the medium and annual development plans.
Mr Ofori Atta also entreated the various assemblies to use the Ghana Integrated Financial Management Information System (GIFMIS) in their budget and financial expenditure for timely reporting.
“The MMDCEs are to ensure all financial transactions are implemented using the system (GIFMIS) to facilitate reporting and for timely decision making.
Adherence to the use of the GIFMIS financials will help minimize or completely address the audit infractions cited under contract procurement, cash, and financial misconduct”, the Finance Minister advised.
In his presentation, Engineer Nadi Imoro Sanda, the District Chief Executive of DBI, said the assembly estimated revenue inflow (IFG only) for 2022 at GH₵220,123.65 but was able to mobile GH₵88,526.91 and expended all as at August 2022.
He said a total of GH₵220,123.65 has been projected for 2023, GH₵220,123.66 for 2024, GH₵221,800.00 and GH₵223,150.00 for 2025 and 2026 respectively.
In the Wa West District, the District Budget Analyst, Mr Zakaria Mujeeb –Rahaman, said an estimated (IGF only) inflow of GH₵158,566.50 was estimated for the year 2022 but could mobilise GH₵89,314.17 as of August 2022.
He added that the Assembly had set IGF revenue target for 2023 at GH₵158,566.50, GH₵158,566.50 for 2024, and the same for 2025 and 2026 financial years.
In the Wa Municipal Assembly, GH₵1,891,578.04 (IGF only) was projected for 2022 and GH₵1,035,360.78 was accrued as of August 2022, out of which GH₵950,126.09 had been expended.
For the 2023 fiscal year, GH₵1,891,578.04 (IGF only) had been projected, GH₵2024, GH₵1,891,578.04, and the same for 2025 and 2026.
Comments