2014 Budget on GIFMIS

The implementation of the GIFMIS to, among others, improve fiscal  discipline in the public sector has achieved a significant milestone following the uploading of the 2014 budget onto the GIFMIS system.

The implication is that no funds can be committed   from the consolidated funds for any project,  if it was not  captured in the 2014 budget.

Parliament on Wednesday, December  18, 2013  passed  the Appropriation Act for the 2014 fiscal year, committing a sum of GH¢36,170,983,663.00 from the Consolidated Fund for government to meet its financial obligations for  2014 as  contained in the  2014 budget.

Again, since all the business processes will be done electronically on the GIFMIS system, it will ensure transparency in the management of the funds, as well as, facilitate quick and quality financial reporting for 2014.