Mid-year budget must not be mere promises – ISSER to gov’t

The Director at the Institute of Statistical, Social and Economic Research (ISSER) Professor Peter Quartey has urged the government to ensure that at least 70 percent of the several promises in the mid-year budget review are implemented.

According to Prof. Quartey, the mid-year budget will turn out to be mere promises if the government fails to follow through with the numerous plans read in Parliament.

Finance Minister, Ken Ofori-Atta, in his presentation to Parliament on Thursday announced measures aimed stimulating the country’s economy amidst Covid-19.

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The minister announced a reduction in CST from 9% to 5% and an insurance scheme for workers who have been laid off as a result of the pandemic. Government has also extended free water and electricity to all Ghanaians for another three months.

The President is also expected to, in the coming weeks, launch a GHc100 billion Covid-19 development program Finance Minister, Ken Ofori Attah, has announced.

The three and a half year programme is targeted at supporting businesses that may have suffered from the coronavirus pandemic.

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Mr. Ofori-Atta ended with a request for approval of over 11.8 billion cedis as a supplementary budget.

In a reaction, the NDC MPs accused the minister of presenting NPP’s 2021 manifesto under the guise of mid-year budget review.

Speaking on the Analysis programme on Saturday, Prof. Quartey said if at least 70 percent of the promises in the budget are implemented then it will be termed as successful.

“If 70 percent of what has been stated there are implemented, then yes, [it will inspire hope] there are a lot of things there like free water because people need to wash their hands during this pandemic. The free power for lifeline consumers these are people who are suffering and need help, the stimulus packages and others inspires hope.

“But it will not inspire hope if they are mere promises and are implemented haphazardly, these are realistic things and if 70 per cent are implemented then it will be successful.”