By: Fred Yaw Sarpong- Daily Express
The Ghana’s Education Sector Performance Report 2015 has revealed that a total spending on education in 2014 was nearly GHc6.6 billion, representing a substantial increase of 15.2% from GHc5.7 billion expenditure in 2013.
According to the report, this was as a result of an increase in Government of Ghana (GoG) expenditure which went up from GHc4.5 billion in 2013 to GHc5.2 billion in 2014 together with other Internally Generated Funds (IGF) and funds from Annual Budget Funding Amount and donor partners.
The report said there was an increase in expenditure of 11.3% from Internally Generated Funds (IGF) by all sectors of schools, as well as a 17.1% increase in Annual Budget Funding Amount (ABFA).
It also stated that donor expenditure on Ghana’s education also increased by 19.7% from GHc267 million to GHc322 million in 2014.
“In 2014, Senior High School (SHS) accounted for the largest proportion of spending (22.4%), followed closely by Primary (22.0%). Tertiary and Junior High School (JHS) accounted for 16.2% and 16.1% of spending respectively,” the report noted.
The report mentioned that with all the expenditure made in 2014, the larger portion went to compensation (77.9%) while goods and services accounted for 20.6%. It noted that expenditure on assets was only 1.5% of total expenditure.
The Education Sector Performance Report 2015 said the execution rate against the allocated budget in 2014 was 114.8%, a significant decline from 152% in 2013, thereby demonstrating Government’s commitment to reducing the wage bill in the public sector.