Following the outcry of netizens and victims of the Akosombo dam spillage, the Minister of Finance, Ken Ofori-Atta, has revealed that the Ghanaian government has provisioned a substantial budget of GH¢220 million these plans while presenting the 2024 Budget.
READ ALSO: 2024 Budget: Key Highlights From Finance Minister Ken Ofori-Atta's Presentation
In a significant move to address the aftermath of flood-related disasters, the Ghanaian government has provisioned a substantial budget of GH¢220 million. This allocation aims to aid communities that have been affected by floods triggered by the spillage from the Akosombo and Kpong dams. Additionally, it will provide support for flood victims residing upstream in the Oti, Savannah, and Bono East regions.
The Minister of Finance, Ken Ofori-Atta, revealed these plans while presenting the 2024 Budget statement before Parliament for approval. He highlighted the government's commitment to incorporating resources from the Ministry of Food and Agriculture to help rebuild livelihoods during the restoration phase. Furthermore, in an effort to secure additional funding, the government has sought assistance from the World Bank under the IDA Crisis Response Window (CRW). These funds are intended to aid in the resettlement of affected individuals, livelihood restoration, compensation, and the reconstruction of essential infrastructure in the impacted areas.
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Mr. Ofori-Atta's presentation to the Parliament aligns with constitutional and legal requirements, as specified under Article 179 of the 1992 Constitution and Section 21 (3) of the Public Financial Management Act, 2016 (Act 921). The detailed budget statement not only outlines revenue generation strategies but also prioritizes expenditure for the upcoming year. Of particular note is the government’s commitment to bolstering domestic revenue sources without unduly burdening taxpayers.
Addressing the nation's debt position, Mr. Ofori-Atta underscored the collaborative efforts of the Volta River Authority (VRA), the National Disaster Management Organisation (NADMO), and various agencies operating under a 13-member inter-ministerial committee to extend diverse forms of support to the affected communities. The government expressed empathy towards families grappling with displacement and provided assurance of its ongoing engagement with affected individuals, community leaders, and stakeholders, including Honourable Okudzeto Ablakwa.
In addition to flood relief, the government has emphasized the protection of vulnerable segments of society through its social protection programs. Notably, there’s a 50 percent increase in funding for the Livelihood Empowerment Against Poverty (LEAP) program. Moreover, the National Health Insurance Scheme (NHIS) has experienced expansion, with over 16 million active members as of September 2023, covering 80 percent of the targeted population of 20 million. Efforts to integrate the Ghana card into the enrolment system are underway, demonstrating the government's commitment to enhancing healthcare access.
Continuing Development Programs
The government continues to demonstrate its commitment to educational and developmental programs such as the School Feeding Programme and the Free Senior High School (Free SHS) policy. Over GH¢740 million has been invested in feeding 3.8 million pupils daily in public basic schools. Moreover, the Free SHS policy will see an additional 448,000 first-year SHS students, contributing to a total of 1.3 million beneficiaries for the 2022/2023 academic year. The commitment to sustain these transformative educational initiatives into 2024 reflects the government's long-term vision for educational advancement.
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Economic Empowerment and Job Creation
Recognizing the potential of small and medium-sized businesses for economic growth, the government plans to amplify its support for young entrepreneurs and emerging enterprises. This includes a collaboration with the Millennium Development Authority (MIDA) and a commitment of GH¢1 billion to ensure the success of the enclave project for import substitution. By prioritizing the expansion and cultivation of entrepreneurial ventures, the government seeks to create sustainable employment opportunities across all regions.
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