Dr Amin Adam in the Mid-year budget disclosed that as part of moves to strengthen Ghana’s social welfare programmes, the government has allocated GHS5.4 billion to bolster the Livelihood Empowerment Against Poverty (LEAP) programme, the National Health Insurance Scheme (NHIS), and the school feeding initiative.
Dr. Mohammed Amin Adam, the Minister of Finance, disclosed this financial commitment to Parliament on July 23, 2024, during the reading of the 2024 mid-year budget.
Dr. Adam underlined the government’s steadfast commitment to improving the standard of living for all Ghanaians, especially the most vulnerable groups in the country, during his presentation to Parliament. According to him, the substantial disbursement shows how determined the government is to provide essential social services and support.
“To reduce the burden on the vulnerable, we have disbursed GH¢5.4 billion to support LEAP, the School Feeding Programme, the Capitation Grant, and NHIS since January 2024,” Dr Amin said.
A major portion of these funds will be directed towards the LEAP program, which provides cash transfers to the poorest households in the country. Over the years, LEAP has been a crucial tool for alleviating poverty and improving living standards. The additional funding is expected to expand the programme’s reach, enabling more households to benefit from this vital support.
Focusing on the critical role of proper nutrition in children’s physical and cognitive development and how it directly influences their educational performance and overall well-being. The school feeding program, which was designed to improve the nutritional status of children in public basic schools, will also receive a significant boost. The government aims to combat child hunger and promote better educational outcomes across the country.
Also, the National Health Insurance Scheme (NHIS) will benefit from the new funding. The NHIS is a cornerstone of Ghana’s healthcare system, providing essential health services to millions of citizens. With this infusion of funds, the government aims to strengthen the scheme, ensuring that more people can access quality healthcare without facing financial hardship.
The Finance Minister highlighted the broader economic context within which these social investments are being made. Despite the challenges posed by global economic uncertainties, he said the government remains committed to making strategic investments in social infrastructure. Dr Adam acknowledged the economic difficulties but stressed the importance of maintaining discipline while investing in programs that foster growth and build a resilient economy.
On Ghana’s economic growth, Dr Amin Adam shared positive developments in the country’s economic performance, noting that Ghana’s economy grew by 4.7% in the first quarter of the year, surpassing initial projections. This growth, he attributed, was due to effective policy measures and robust economic management.
The Minister also highlighted the progress made in stabilizing inflation and the exchange rate, which has brought relief to businesses and households. Improvements in these areas are critical for maintaining economic stability and creating a conducive environment for investment and growth.
In summing up the government’s strategy, Dr Amin Adam stated, “Despite the global economic headwinds, our government remains steadfast in its commitment to fiscal discipline and social investment. We believe that strategic spending in social protection programs is crucial for fostering inclusive growth and building a resilient economy.”
