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12.11.2019 Business & Finance

Finance Minister Presents 2020 Budget Tomorrow

By News Desk
Ken Ofori-Atta
NOV 12, 2019 BUSINESS & FINANCE

Finance Minister, Ken Ofori-Atta, is expected in Parliament tomorrow, November 13, 2019, to present the 2020 statement and economic policy.

The presentation, according to the Information Ministry, would commence at 10:00am.

It comes amid threats by the Minority National Democratic Congress (NDC) in Parliament to give Mr. Ofori-Atta a vote of no confidence.

The Minority made the threats over what it believes are high fiscal deficit figures that have been recorded by President Akufo-Addo’s Government.

According to the Minority, Mr. Ofori-Atta is trying to willfully massage the NPP administration’s spending figures to keep it within the accepted limit.

In accordance with the provisions of Ghana’s Fiscal Responsibility Act, a Finance Minister is not supposed to superintend a fiscal deficit which exceeds 5 per cent lest he be censored.

Minority spokesperson on Finance, Cassiel Ato Forson, has told the press that Mr. Ofori-Atta was trying to avoid censorship and as a result he was allegedly manipulating economic figures.

According to him, NDC MPs would reject figures to be presented by the Minister in Parliament today.

He warned that “He should prepare because he has already exceeded that 5 per cent.”

The Akufo-Addo’s government recently at its seventh Cabinet retreat held at the Peduase Lodge examined its economic turnaround program and as well approved a framework for the 2020 Budget.

Government at the retreat also lied down some “redlines” in preparation for the 2020 Budget.

Flagship Programmes Completion

Already, Information Minister, Kojo Oppong Nkrumah, has informed the media that the 2020 budget statement would provide details on the completion and sustainability of Government’s flagship programmes.

The flagship programmes are 16 in total including the Free SHS, One District One Factory, One Village One Dam, among others.

Election

The Budget Statement would also spell out how Ghana for the first time would self-finance its Presidential and Parliamentary elections in 2020 in fulfilment of President Akufo-Addo’s vision of a ‘Ghana Beyond Aid.’

As 2020 marks an election year with fear of budget overrun as has happened in time past during electioneering periods, stakeholders, especially civil society organizations and policy think tanks are hoping to hear how Government would ensure fiscal discipline in 2020.

---Daily Guide

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