Finance Minister requests 10.9bn for 1st quarter of 2017

Members of Parliament are waiting anxiously for a debate on the Finance Minister's proposed budget for the first quarter of 2017.

There was a huge expectation that the Finance Minister would today give a presentation of the 2017 first quarter estimates in Parliament.

Finance Minister Seth Terkper was likely to propose a 10.9 billion cedis expenditure target which would represent first quarter of 2017 estimates and vote of accounts.

The presentation was to enable government spend between January and March 2017 pending a new budget to be read by the new government that would emerge from the 2016 elections.

However that presentation has been put on hold, Joy News' Parliamentary correspondent Elton John Brobbey reported.

The action was in line with the constitution and the new Public Financial Management law.

According to Elton Brobbey, the Minister was called to lay the document before Parliament, which was later referred to the appropriate committee to consider the content of the document and report back to Parliament.

Last week the Deputy Majority Leader, Alfred Agbesie in presenting the business statement told the House that the Minister was going to present estimates for revenue and expenditure of the government of Ghana for the 2017 financial year and that he was also going to present expenditure in advance of appropriation for the first quarter of next year.

However, the Financial Minister withdrew the estimates of revenue and expenditure for the government of Ghana for 2017 which would have suggested a full budget presentation for next year, despite the uncertainty in who wins this year's election.

It is expected that the new that comes into office will present the budget statement for next year.

According to Elton John Brobbey members of the Finance Committee of Parliament are perusing the document after which it will be brought back to the floor of Parliament for debate.

Majority Leader Alban Bagbin said with the document having been laid in the House, it is the property of Parliament and due process will be followed in debating the issues contained in the document.

Story by Ghana|Myjoyonline.com|Nathan Gadugah