2024 Mid-Year Budget Review; Gov’t to allocate GH¢1.5 Billion for financial claims, announces road tolls for 2025

In a move to address pressing financial obligations, Ghana’s Finance Minister Dr. Mohammed Amin Adam has announced an allocation of GH¢1.5 billion to settle outstanding claims from financial management companies. This significant announcement was made during the 2024 Mid-Year Fiscal Policy Review, presented to Parliament on Tuesday, July 23.

Dr. Adam highlighted the government’s commitment to resolving these financial obligations as part of its broader strategy to ensure economic stability and fiscal discipline. „Mr. Speaker, Cabinet has also granted approval for the disbursement of an additional GH¢1.5 billion to settle outstanding claims relating to the financial management companies“, he said, underscoring the government’s dedication to fulfilling its financial responsibilities.

In addition to addressing these financial claims, Dr. Adam revealed plans to reintroduce road and bridge tolls in 2025. This decision is part of a broader strategy aimed at improving infrastructure funding and management. The Reintroduction of Tolls is expected to generate additional revenue to support ongoing and future infrastructure projects.

„This move will help enhance infrastructure funding and management“, Dr. Adam noted. „We are committed to ensuring that our infrastructure is well funded and maintained to support national development efforts.“

The Finance Minister’s announcements reflect the government’s ongoing efforts to balance fiscal responsibilities with investments in infrastructure and development. The additional funding for financial claims and the planned reintroduction of road tolls are part of a comprehensive approach to managing the country’s financial and infrastructural needs.

Dr. Amin Adam’s address emphasized the importance of maintaining fiscal discipline while advancing national development goals, aiming to bolster economic stability and support Ghana’s growth trajectory.