Audio Attachment:Listen to Ken Ofori-Atta on the floor of Parliament |
The Finance Minister, Ken Ofori Atta in the 2020 budget statement and economic policy has indicated that the country has chalked very significant financial success in the 2019 year.
According to him, in spite of the challenges which subdued the economy of Ghana, the country has come alive again due to the competent management of the economy under the leadership of President Akufo-Addo.
Addressing Parliament in the budget statement and economic policy, Mr. Ken Ofori-Atta recounted that "we have won some painful but necessary battle for God and country" as the Akufo-Addo government has quietly, but incontestably achieved significant structural changes for the economy.
He maintained that the economic management team in the Akufo-Addo government has stabilized greatly the macroeconomic turbulence that was a regular feature in the management of the national economy in the previous administration.
“We have delivered on our flagship programs . . . the gains made so far are significant," he stated.
He, however, alluded to the fact that the first-year budget he presented in Parliament showed a bad economy, suffocating under a mist weight of debts, arrears, very high cost of living, high youth unemployment and worst growth rate since 1994.
He stressed that, “growth in Agriculture was declining, industry growth was in the negative, the interest rate was high, the banking system was comatose, unemployment was rising and businesses and households were working mainly to pay off their utility bills”.
“The poor state of the public finances, weak policy implementation and lack of policy credibility, clarity and consistency resulted in Ghana requesting IMF bailout in August 2014. The economic module being practiced at that time was a simple and examined formula of tax and spend without a focus on production,” he reiterated.
He insisted that the previous government resorted to some draconian fiscal measures; notably the increased in the tax burden and on many items and activities, including condoms, cutlasses as well as 'kayayie', as well as freeze was imposed on the public sector from employing people.
“There were cuts to a number of arrears of spending most notably were cut to research advances for lecturers and nursing and teacher training allowances; yet, the government then was awarding billions of Cedis worth of contracts without knowing about how to pay for them. It was a case of living for today and leaving tomorrow for itself,” Ken Ofori-Atta told Parliament.
Find attached the budget and Financial Statement read to Parliament by the Finance Minister, Ken Ofori-Atta.
Source: Daniel Adu Darko/Peacefmonline.com/[email protected]
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Empty budget. There is nothing in it. Waste of time
By the time Ghanaian realise the deception from this man and his HYPER incompetent Uncle it would be too late. Where is our bond cash?
@ Kofi your president was clueless when asked how much it will cost to implement Free SHS, source of funding, he also didn't know. He did plan anything that has got us where we are today as the academic calendar is run on 'tot, tot'. Students are home not knowing what to do. Green Track students are home and parents have to find another cash to enroll them in extra classes and you tell me this is the best that has happened to Ghana? It is only irresponsible parents who don't value what education is will embrace this scam. By the way where are the children of those implementing the Free SHS (children of members of the ruling government) If it's good why haven't they sent their children to the public schools?
So what is this Mahamiasis that has taken hold of some NDC activists. What do they see in Mahama that they think he could ever come back? Mahama back to the helm of affairs in this country? Now this is the answer: Mahama is mentioned because he's the base year, the reference point where this government took over power. You cannot make a comparision without a reference to where you came from. Hope the NDC intellecto-phobia now get it? Besides, this same Mahama is mounting platforms telling Ghanaians he wants to come back. But ask Mahama, a year into 2020 to tell us what he wants to do, then he comes back to us to propose ideas for him. So can't the adherents of the NDC READ between the lines for themselves? That the party leadership is empty? Cant you get it? That the NDC is not good for this COUNTRY. That for the sake of the future of this country, Mahama himself should have thrown in the towel, seeing the good works going on? Mini sani po ne?
Hardly will these crooks speak without mentioning Mahama. Are they seeing and hearing things we're not privy to? Personally, blaming Mahama in their fourth year tells a lot. They have failed thinking that, by mentioning Mahama Ghanaians will accept their mediocre administration. This time around, whether you mention Mahama or intentionally play spiritual, you're losing. From what we have seen you only came to milk the state for your family to leave big and we are witnesses to that. Ask you family and cronies to lead the campaign. You sent people to NABCO and placed your children at strategic places. We hear!
Waaaaaa, come and give us your budget and how it is going to improve our lives, you are here talking about Mahama who is out of government. Meanwhile, mahama is not the one who has been assigned the leadership of the country now. With all your lofty promises you find difficulty implementing you will talk about mahama. I don't no how someone you call incompetent has suddenly been a threat that from the president to barwumia to finance minister everyone keeps talking about him.