Business Politics

Budget Goes To Parliament Thursday

Mr Ken Ofori-Atta, the Minister of Finance, will present the 2019 Budget Statement to Parliament on Thursday, November 15.

“The budget has been designed to bring more relief, hope and improvement in the standard of living of Ghanaians,” Mr Kojo Oppong Nkrumah, Minister of Information, hinted at a media briefing last week.

It would also mark the beginning of Ghana’s exit from the International Monetary Fund (IMF) programme, under which Ghana sought almost 918 million dollars over three years with conditionalities.

The IMF conditionalities, among other things, required Ghana to improve domestic resources, control expenditure and reduce the budget deficit, which also placed a ban on new employment within the public sector.

The 2019 budget – the third of the Akufo-Addo administration – would be the first that is not under the supervision of the IMF.

Mr Nkrumah explained that Cabinet had already reviewed the fiscal statement.

“The Minister of Finance will demonstrate to Ghanaians what, as we exit the IMF programme, the Akufo-Addo administration intends to do to maintain the fiscal discipline, which has been restored; increase liquidity in the Ghanaian economy and sustain the heightened growth,” according to Mr Oppong Nkrumah.

The Finance Minister would also speak on how the Government intends to invest in massive infrastructure without compromising on debt sustainability as well as expand credit to the benefit of small and medium scale enterprises.

The Information Minister said with the successful exit from the IMF conditionalities, coupled with the prudent measures put in place by the Government within a period of two years, there would be improved macro environment.

He said Ghanaians should have hope as the gains made would be consolidated while government brings relief in 2019.

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