Finance Minister Dr. Cassiel Ato Forson has disclosed that the government owes contractors and suppliers a staggering GH¢67.5 billion.
In his presentation of the 2025 budget to Parliament on Tuesday, March 11, the Finance Minister explained that upon assuming office, he was immediately flooded with requests for payments from numerous contractors and suppliers who had provided goods and services to the government but had not yet received their due compensation.
Recognising the critical need for clarity, he said that he embarked on a thorough validation exercise to determine the actual amount owed across all Ministries, Departments, and Agencies (MDAs).
The validation exercise ultimately revealed an overwhelming financial obligation, confirming that the government owes a total of GH¢67.5 billion to various contractors and suppliers.
Breaking down the figures, Dr. Forson detailed that GH¢49.2 billion comprises outstanding interim payments owed by MDAs, while an additional GH¢18.3 billion is attributed to back transfer advice at the Controller and Accountant-General’s Department.
“When I assumed office, my office was inundated with requests for payment from many contractors and suppliers and o to ascertain the total arrears and outstanding payment for all MDAs, the Finance Ministry requested that all MDAs submit information on all arrears for validation.
“The validation revealed that a staggering amount of GH¢67.5 billion is owed to government contractors and suppliers. This consists of MDAs outstanding interim payments worth GH¢49.2 billion and back transfer advice at the Controller and Accountant-General worth GH¢18.3 billion.”
