The Minority in Parliament has lauded the performance of Finance Minister Ken Ofori-Atta in the presentation of Thursdays 2017 budget, describing it as propaganda free.
Minority leader Haruna Iddrisu at a press briefing in Accra Friday said the Minister stuck to the truth about Ghana's economy - something he believes other government officials would not have done.
"We note that the Finance Minister refrained from the unfortunate propaganda that other leaders of the NPP use to do, especially Vice President Mahamudu Bawumia, when it comes to discussing the economy," said.
"He rightly acknowledged the significant contributions made in the management of the economy by the previous National Democratic Congress (NDC) government."
Mr Ofori-Atta presented the first budget of the New Patriotic Party (NPP) government to Parliament itemising seven programmes that would be executed in 2017.
He said the micro-economic outturn for 2016 was mixed with some subdued growth and performance.
"Inflation,which remained elevated for most part of 2016, began to slow-down towards the end of the year. Inflation began the year at 19.0 percent, peaked at 19.2 percent in March and ended the year at15.4 percent."
"Interest rates in 2016 exhibited mixed performance. The Bank of Ghana Policy Rate was kept at 26 percent until October 2016 as risks to inflation and growth were assessed as balanced.
The policy rate, however, was reduced to 25.5 percent, as inflation pressures eased while domestic growth conditions continued to deteriorate. Yields on short-term Government securities decreased, while those of medium to long-term GOG bonds increased in line with Government’s policy to properly align the yield curve and Extend the maturity profile," he said.
On the external sector, Mr Ofori-Atta said Ghana's balance of payments (BOP) turned surplus for the first time since 2011 - a consequence of "improved current account balance."
"The BOP surplus was US$247 million, compare to a deficit of US$129 million in 2015. The trade balance improved from a deficit of US$3.1 billion in 2015 to a deficit to US$1.7 billion in 2016 due to increased exports receipts by 7.2 percent and a decline in imports by 5.3 percent," he said.
But the minority said the statement of the Minister was devoid of the posture put up by NPP officials when they want to run down the economic performance of former President Mahama's government.
"A review of the macro-economic outturn for 2016 reveals significant gains made by the previous NDC government." The NDC MPs, however, raised issues with the failure of government to indicate how it intends to finance its many social intervention programmes.
"A key expectation of this budget in light of the confusion that arose in the Akufo-Addo government in the wake of the Heritage Fund debacle, was that, very specific sources of funding for the implementation of the promises made by the party on the campaign trail were not disclosed."
Source: myjoyonline.com
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MATRIKI WU-FREE SHS 400 MILLION CEDIS NOT SUFFICIENT BY 800 MILLION CEDIS FREE SHS TO COST $1.2 BILLION (¢4.8 BILLION) A YEAR – KOFI BENTIL The Vice President of IMANI Ghana, Mr. Kofi Bentil has disclosed to GhOne TV that the free Senior High School Program will cost government 1.2 billion dollars a year,i.e 4.8 billion cedis for form one to form three. This postulation according to him stems out of a number of extensive researches that IMANI Ghana has done on the free SHS program. Although, he acknowledged that the free SHS program is doable, he also admitted that it will be an opportunity cost for Ghana. “The free SHS is doable but it means that Ghana would have to cut down on a number of things to roll out this program. But the question is what do we cut? Government must cancel some social intervention programs like the LEAP, GYEEDA, MASLOC among others depending on its priority areas to facilitate the free SHS. We have to also cut down on corruption, tax evasions and deal with all leakages in the system to fund the free SHS,” Mr. Bentil explained. Mr. Bentil recognized that Ghana has what it takes to get the free SHS program running but ruled out the use of the heritage fund and expressed excitement that the Finance Minister, Hon. Ken Ofori Atta has retreated on that consideration. However, he recommended the free SHS program should be progressive as lumping up all the other components together for a full start could pose a challenge. “I believe this program must be progressively free. For example, we can start with SHS 1 for the time being and graduate to the other levels but l don’t think it should cover boarding for now,” he added. In his opinion, if government does not pull up a tight plan to sustain the program it might get stalled along the way. Discussing the funding of the free SHS on ‘State of Affairs’ on GHOne TV, the Project Officer, Civil Society Platform on Oil and Gas, Mr. Chideze Ezekiel also indicated the use of the heritage fund for the fee SHS policy was unlawful and defeats the purpose for its establishment. He also recommended citizen consultation or engagement on how the program will be funded so that the will of the people will not be subverted. “After all, the president said in his inaugural speech that we should be citizens not spectators. So we need to open the source of funding for this program to a national debate for a consensus to be reached for all stakeholders to be happy,” Mr. Chideze argued. He also advised government to graduate the free SHS program from one level to the other while giving serious consideration to access and quality. Both guest on the show, lauded the free SHS policy and urge government not to follow due process to make the program sustainable. Source: Enerst Lartey
Honestly I'm dumbfounded! Are they aware that in Ghana the VP is always supposed to be head of the economic team? That's why Amissah-Arthur was there. So in praising Ken, you're praising Bawumia, because they drew up the budget together! You guys are DAFT!!!!!! Yesu, begye steer!!!!!
TEL THE CHILDREN THE TRUTH BABYLON SYSTEM IS A VAMPIRE SUCKING THE BLOOD OF THE SUFERER OH GHANA GOD BLESS
He is scared of the vice in 2024 GOD permitting.
Bawumia and Ken are one!! Love one, love them both. You can't stand Bawumia because he cuts it to you too deep. You are annoyed with him and his wife because you don't want a fellow northerner to criticize your tin god Mahama. Bawumia is the head of the economic team. Ken works under him. Too bad if you can't stand him.
THANKS VERY MUCH FOR THIS INDIRECT RECOMMENDATION OF DR BAWUMIA, LET ALL REMEMBER THAT HE DR BAWUMIA IS HEAD OF THE ECONOMIC TEAM OF THE REPUBLIC OF GHANA. NPP ALL THE WAY. 2017 BUDGET IS WHAT HE DR BAWUMIA HAS LONG BEEN ADVOCATING FOR
But Ken Ofori Atta & Bawumia are the economic managers of this government. So if you praise Ken, you must also praise the economic genius Bawumia. Ndc cry when they see Bawumia. He destroyed Ndc and it is very painful for Ndc's. Nana/Bawumia, no size.
The only thing NDC knows is to sing praises and not to perform. When you sing their praise, they tag you as "good" otherwise you are vilified. They praised the abysmal performance of Mahama for 4yrs until he was booted out of office (one term president). They are still singing those irritating praises in opposition and doing it in a worst form. The NDC simply hates the truth! They lie and lie till they lost, and even claimed victory (cruising to victory, in a comfortable lead....). The foot soldiers will soon come after them.