The Ministry of Finance has cut Ghana government’s planned spending on the Ministry of Youth and Sports for the 2020 fiscal year by 8.1%, equivalent to GH¢3,550,891, a budget document presented to Parliament Wednesday shows.
This is manifested by the clear absence of funds from development partners unlike in the previous year. For 2019, the Ministry received as much as GH¢4,810,000 representing Development Partner Funds.
The reduced outlay for the Youth and Sports sector as presented by Finance Minister Ken Ofori-Atta stands at GH¢40,244,155. The 2019 Budget Statement and Economic Policy allocation was GH¢43,795,046.
For 2020, the total expenditure on compensation of employees for the ministry has been estimated at GH¢18,018,403. In the previous budget, the entire salaries of staff and agencies under the ministry stood at GH¢18, 797,432.
Also, GH¢19,691,511, representing ‘Goods and Services’, is to be funded by the Government of Ghana (GoG).
Capital Expenditure (CAPEX) allocation is pegged at GH¢2,000,000. This amount will be used to buy, maintain, or improve the sports ministry’s fixed assets.
Retained Internally Generated Funds sees an increase to GH¢534,241 for the 2020 financial year.
Wages and Salaries: GH¢18,018,403
Goods and Services: GH¢19,691,511
Capital Expenditure: GH¢2,000,000
Retained IGF: GH¢534,241
Total Public Funds: GH¢40,244,155