Ghana’s 2024 Budget Approved in Narrow Vote After Heated Debate

(Bloomberg) -- Ghana’s lawmakers approved the nation’s 2024 budget after a heated debate that propelled the decision into a ballot.

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Parliament voted 138 in favor of the ruling party’s last budget, against the opposition’s 136 votes, Speaker Alban Bagbin said during proceedings Thursday.

New taxes outlined in next year’s budget will add to the burdens of households already strained by the tight economic and financial conditions under an International Monetary Fund bailout program, the minority argued.

President Nana Akufo-Addo of the New Patriotic Party will be stepping down after elections in December 2024, which will mark the end of his full two terms. Ghana agreed to a $3 billion program with the IMF in May following a debt crisis that compelled it to suspend external debt payments.

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