Prof. Gatsi Allays Fears Over Delay in Passing Expenditure Appropriation Bill Ahead of Elections
Dean of the School of Business at the University of Cape Coast (UCC), Professor John Gatsi, has dismissed concerns over the potential risks posed by the failure of Parliament to pass the Expenditure in Advance of Appropriation Bill before the December 7 elections.
Speaking during an interview, Prof. Gatsi clarified that there is ample time for the legislative body to fulfill its obligations.
“For now, there’s no immediate impact,” Prof. Gatsi stated, explaining that Parliament remains in session until January 6, 2025. This provides a one-month window for lawmakers to finalize any critical fiscal policies for the first quarter of 2025.
Risks if Delays Persist
While assuring that there is no immediate threat, Prof. Gatsi however, acknowledged the risks if Parliament fails to act within the remaining timeframe.
“If the budget is not passed, civil servants, public servants, and security personnel cannot be paid. This would also create significant issues for contractors providing essential services to the government,” he said.
Nevertheless, Prof. Gatsi expressed confidence in the process, noting that when expenditure appropriation bills are presented to Parliament, they typically take just a few days to be passed.
Focus Shifts to Election Outcomes
According to Prof. Gatsi, economists in Ghana are not particularly concerned as the current legislative timeline still allows sufficient opportunity to address the issue, asserting that the current national discourse is focused more on the elections and their outcomes rather than budgetary risks.
“What we are discussing in Ghana is who will win the election and how policies will be rolled out to improve the lives of Ghanaians and not so much about the delays in getting the expenditure appropriation bill passed,” he concluded.
Meanwhile, the Finance Minister, Dr Mohammed Amin Adam, speaking during the Ministry’s Monthly Economic Update on Tuesday, December 3, 2024, revealed that the Ministry has already submitted the Expenditure in Advance of Appropriation Bill to Parliament and is awaiting Parliamentary approval.
