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ABFA UP 60%

Out of the distributable amount of US$277.79 million from the Petroleum Holding Fund (PHF) for the first half of 2017, the Annual Budget Funding Amount (ABFA) received US$84.73 million (GH¢358.41 million, representing 30 percent), the Public Interest and Accountability Committee (PIAC) has revealed.

The allocation to the ABFA during the period under review represents 45per cent (US$188.26 million) of programmed ABFA for 2017.

According to the PIAC, an amount of US$18.62 million (GH¢78.69 million) was brought forward from 2016 as a balance on the ABFA Account, bringing the overall receivables by the ABFA to US$103.35 million (GH¢437.10 million) in the first half of 2017. This amount (GH¢ 437.10 million)
This represents a 60.44 percent increase over the amount available in the same period of 2016 (GH¢172.9 million).

In the Committee’s 2017 Semi-Annual report, an amount of GH¢78.1 million (US$18.62 million) was refunded into the Treasury Main (T-Main) Account in lieu of ABFA payments made from the T-Main in 2016.

Spending on Agriculture amounted to GHȻ17.92 million mainly in respect of the development of irrigation infrastructure, construction of Fisheries College in Anomabo, and counterpart funding for the Northern Rural Growth Programme.
As at the end of July 2017, there was no payment under GoG ABFA spending for Roads, Rail, and Other Critical Infrastructure.
However, a total amount of GH¢29.22 million was transferred to the Ghana Infrastructure Investment Fund (GIIF) in January 2017.

There was no spending under Physical Infrastructure and Service Delivery in Health.
An amount of GH¢6 million was spent under the Physical Infrastructure and Service Delivery in Education priority area. The amount, Business Finder can confirm was made to the Scholarship Secretariat in February, 2017 in respect of payment of scholarship claims.

Total disbursements from the ABFA from January to July 2017 was GH¢53,136,951.
Consequently, the balance in the ABFA account as at the ending of July 2017 stood at GH¢305.87 million. The GH¢53.14 million of ABFA expenditure on priority areas in the period January – July represents 6.67 percent of total programmed ABFA expenditure for the year.
Out of the Government’s budgeted ABFA expenditure of GH¢796.32 million for 2017 for the four priority areas, GH¢238.89 million was for the supply of goods and services, whilst GH¢557.42 million was to be spent on capital expenditure.
PIAC notes that only 14.83 percent of the ABFA allocation to the MoF was actually spent on 3 of the four priority areas, with no disbursement made for Physical Infrastructure and Service Delivery in Health between January and July 2017.

 

 

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