Ghana Says Expects EU Funds To Support 2015 Budget

Deputy Finance Minister Cassiel Ato Forson

Ghana expects to receive 161 million euros ($180 million) from the European Union (EU) “within weeks” to support the government’s 2015 budget, Deputy Finance Minister Cassiel Ato Forson said on Friday.


Forson spoke ahead of a meeting between President John Mahama and Ghana-based ambassadors of EU member states.


The aid is to stabilise the country’s economy in the face of a range of fiscal problems, including a falling currency.


“The EU has been following our progress and they have resumed their support for the budget.


“We are receiving 161 million Euros from the Union within weeks,” Forson said.


The EU had frozen funds it pledged to Ghana’s budget in 2013 after government overshot budgeted spending by nearly 100 per cent.


Forson said some of Ghana’s European development partners had also begun releasing frozen funds individually.


“Some of the monies are already on their way to the Bank of Ghana,” he said.


Source : Leadership

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