We will continue to prudently manage public finances to protect the vulnerable – Dr. Mohammed Amin Adam

Finance Minister, Dr. Mohammed Amin Adam

The Minister of Finance, Dr. Mohammed Adam has emphasised government’s commitment to protect vulnerable Ghanaians.

According to him, this will be done by prudently managing the public finances of the country.

The Minister of Finance announced on Tuesday, July 23, when he went to Parliament to present the 2024 Mid-Year Budget Review.

“We will continue to: Prudently manage public finances and protect the vulnerable; support enterprises through our SME GO programme; Invest in agriculture to impact inflation, address food imports and preserve forex; Invest in Roads that advance trade integration and productivity; Improve housing delivery and optimise land use; and Promote the digitalisation drive to improve service delivery,” Finance Minister Dr. Mohammed Amin Adam said.

The Minister continued, “Mr. Speaker, we must do these for the sake of the market women who promote trade. We must do these for the future of school children and young graduates. We must do this to support working parents to build their families. We must do this to enable our businesses to set up and step out to take advantage of AfCFTA. We must do this to protect and care for widows, aged, and the disadvantaged.”

In his address, Dr. Mohammed Amin Adam said government plans to reinstate the 5 per cent deficit threshold in 2025.

He said this will be done through a mindset of possibilities to confront the economic challenges the country has faced.

“In this Mid-Year Budget, we are not seeking additional resources. Rather, we are proposing to reduce appropriation to GHS 237,362,141,676.45. Our progress has informed our proposal to reinstate the fiscal rules on the 5 percent deficit threshold, which we suspended in 2020, in 2025,” Dr. Mohammed Amin Adam said.