The Ministry of Finance has dismissed claims that it is withholding funds from key government institutions, revealing that substantial budgetary allocations have been released to support the operations and development programmes of state agencies.
Deputy Minister for Finance, Thomas Ampem Nyarko, disclosed this during an engagement with Parliament’s Government Assurances Committee, where he sought to address concerns and public speculation regarding the release of funds to ministries and agencies.
According to him, contrary to assertions that the Ministry of Finance, under Finance Minister Dr. Cassiel Ato Forson, has failed to make funds available to critical sectors such as agriculture, the ministry has consistently honoured its financial commitments.
Mr. Ampem Nyarko disclosed that the Ministry of Food and Agriculture (MoFA) alone has received GH¢1.677 billion so far this year, representing 85 per cent of its approved budget for Goods and Services as well as Capital Expenditure.
“The Ministry of Finance has not withheld funds from the Ministry of Food and Agriculture. On the contrary, significant releases have been made to support government’s agricultural transformation agenda,” he told the committee.
He outlined the major allocations released to the ministry, including GH¢581.4 million for the establishment of 50 Farmer Service Centres across the country, GH¢110 million for irrigation infrastructure projects, and GH¢515.3 million to procure fertilisers and certified seeds for farmers.
Additional releases include GH¢244.9 million for the implementation of the government’s Nkoko Nkitinkiti programme and GH¢200 million for the National Food Buffer Stock Company to strengthen food security and stabilise agricultural markets.
The Deputy Finance Minister emphasized that the releases demonstrate government’s commitment to investing in agriculture as a key driver of economic growth, job creation and food security.
He noted that the Ministry of Finance continues to work closely with spending agencies to ensure the timely disbursement of funds for approved programmes and projects despite prevailing fiscal constraints.
Mr. Ampem Nyarko further assured the committee that government remains committed to supporting strategic sectors of the economy through prudent financial management and timely budget execution.
The disclosure comes amid public debate over the pace of fund releases to ministries, departments and agencies, with some critics alleging delays in financing key government programmes.
However, the Finance Ministry maintains that it has consistently released funds in line with approved budgets and national development priorities, particularly in sectors critical to economic transformation and social development.
By: Christian Kpesese
