Graphic Business News

Govt sets aside GH¢3.8bn for infrastructure dev’t

By: Jessica Acheampong
Govt sets aside GH¢3.8bn for infrastructure dev’t
Govt sets aside GH¢3.8bn for infrastructure dev’t

THE government has earmarked about GH¢3.8bn to finance key infrastructure projects in 2018.

The 2018 allocation, due to be announced in the tomorrow’s budget, is higher than the GH¢2.62 billion that was allocated to the infrastructure sector in 2017.

The amount is expected to be used to solve part of the infrastructure challenges in the country.

Infrastructural challenges continue to be a key constraint on growth of the economy and government intends to use the 2018 to drive investments in the sector to help change the structure of the local economy.

Breakdown of expenditure

The GRAPHIC BUSINESS is reliably informed that of the total allocation to infrastructure, about GH¢1.2billion will be spent on poverty eradication.

The flagship railway development project, which aims to refurbish and build new lines as well as procure new coaches, is also due to receive GH¢327 million in 2018.

The Marshal Plan for agric and roads will also be allocated GH¢700 million.

The Zongo Development Fund, which was established to help develop the inner cities, would also receive a budgetary allocation of GH¢150million.

A total of GH¢134 million would also be allocated to employee compensation, among others.