Government releases funds to DACF, GETFund and National Health Insurance

Category: Business & Economics Created on Wednesday, 27 June 2012 09:36 Published Date Written by All Ghana News Hits: 245

Accra, June 26, GNA - 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, issued by Abdul Hakim Ahmed of the Ministry of Finance and Economic Planning, said the fund comprises GH¢725.1million in respect of 2012 statutory transfers and GH¢292.1million 2011 transfers that spilled over into the 2012 fiscal year.

     It said the amount represents 49.64% of projected estimated transfers to statutory funds in the 2012 budget and that of the total amount, the District Assemblies Common Fund would receive 481.69 million, the GETFund would receive 184.83 million and the National Health Insurance would receive the remaining 350.66 million cedis.

     The release said releasing such funds to statutory bodies shows the commitment of government in ensuring timely provision of resources to District and Metropolitan Assemblies for the implementation of projects and programmes.

     This, it said, 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.