The Minister of Finance, Dr. Cassiel Ato Forson, has disclosed that the Nana Addo Dankwa Akufo-Addo government left behind a debt of over GH¢6 billion owed to government contractors and suppliers.

Dr. Ato Forson made this disclosure while giving an update on the state of the economy that the John Dramani Mahama government inherited from the Nana Addo Dankwa Akufo-Addo administration while presenting the 2025 Budget and Economic Policy at Parliament on Tuesday, March 11, 2025.

He indicated that the arrears were owed to suppliers and contractors of the Ministries, Departments and Agencies (MDAs) and have been validated by his ministry after a thorough process to ensure no unmerited payment is made.

"The responses from the MDAs and the validation revealed that a staggering amount of GH¢67.5 billion is owed to government contractors and suppliers.

"This consists of MDA outstanding Interim Payment Certificates and invoices of GH¢49.2 billion and outstanding Bank Transfer Advice of GH¢18.3 billion at the Controller and Accountant-General's Department," he said.

Dr. Ato Forson clarified that the GH¢67 billion owed to contractors and suppliers of the MDAs excludes the arrears left behind by the Akufo-Addo government due to IPP and the debt owed by the ECG and other state agencies.

"Mr. Speaker, this total central government arrears/payables excludes the following: i. US$1.73 billion owed to Independent Power Producers (IPPs); ii. GH¢68 billion owed by the Electricity Company of Ghana (ECG); iii. GH¢32 billion owed by the Ghana Cocoa Board (COCOBOD); and iv. GH¢5.75 billion owed by Road Fund."

BAI/SEA

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