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According to Palgrave Boakye-Danquah, the government’s spokesperson on governance and security, the NPP Government is providing accountability to Ghanaians regarding the management of the economy.
Mr. Palgrave Boakye-Danquah speaking on ADOA TV AM Ghana show about the Minority’s concern regarding the NPP Government’s decline in economic growth by 1.5% this year, Mr. Boakye-Danquah explained that the Government is currently running an IMF program, As a result, the country’s expenses and enhanced programs that were submitted to the IMF have been implemented referencing it to the $3 million facility approved by the IMF and the $600 million grant set to end in November, with a review to follow before the remaining $600 million, highlighting that his government is being credible.
The Minister for Finance, Ken Ofori-Atta presented the 2023 Mid-Year Budget Review in Parliament on Monday (31 July).
The Budget Review, which is presented annually, is in accordance with Article 179 of the 1992 constitution and the Public Financial Management Act 2016 (Act 921), offers the opportunity to revise macroeconomic targets, and presents a comprehensive economic outlook for the rest of the fiscal year. The Mid-Year Budget Review is the first major financial statement made by the government since Ghana secured an extended credit facility of US$3 billion from the International Monetary Fund.
Mr. Boakye-Danquah indicated that the government is committed to achieving the growth projections expected by the IMF.
“As a government, our goal is to achieve projected growth. It’s important to keep in mind that the tenure of Prez Akufo-Addo will end on January 7th, 2025. The next NPP government, starting in January 2025, will be responsible for continuing these growth projections”.
Regarding the issues of taxes in the 2023 mid-year budget review, “our government has been a strong supporter of the private sector and business community, more so than any other government in the fourth republic. It is important to keep in mind that we are currently operating under an IMF programme. During the Mid-Year budget review, we did not introduce any new taxes nor did we burden the Ghanaian people with heavy taxes, Instead, we have focused on finding solutions to our issues. I am confident that the country will emerge even stronger before the Minister reads his final Midyear budget” he said.
Furthermore, the Government Spokesperson on Governance and Security hinted that the 2024 budget reading may or may not include information on the COVID-19 levy.
He emphasized the need to relieve the burden of taxes and prepare the country for the future. He mentioned that through the brilliant leadership of President Akufo-Addo policy implementations, such as Agenda 111, emerged from the challenges posed by the Covid-19 pandemic.
He later indicated that his Government is ensuring a significant health investment citing the Agenda 111 hospitals which 86 of them are at different stages of completion. Mr. Boakye-Danquah also affirms that all 111 hospitals will be completed by January 7th, 2025.
The Finance Minister also used the session to inform Parliament about steps taken by the government to stabilize the economy since Ghana secured the IMF deal.
Story By: ANFRED
