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Ghana Parliament Approves Budget, Raising Spending and Taxes

Dec. 7 (Bloomberg) -- Ghana’s parliament today approved the West African nation’s 2011 budget, which includes a 14.6 percent increase in spending and higher taxes on goods ranging from chickens to airline tickets.

The parliament, controlled by President John Atta Mills’ National Democratic Party, didn’t amend the budget proposed by Finance Minister Kwabena Duffuor on Nov. 25, Emmanuel Ladzagla, a clerk at the parliament, said in a phone interview today.

The Finance Ministry projects oil revenue of 584 million cedis ($401 million) in 2011. About half of that will be channeled to the state-run Ghana National Petroleum Corp. Ghana is due to begin pumping oil from its offshore Jubilee field on Dec. 15.

Parliament is expected to continue debate on an oil revenue bill tomorrow, Ladzagla said.

To contact the reporter on this story: Jason McLure in Accra on jmclure@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.

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