Mid-year budget: For once the cries of Ghanaians have been heard – Economist

Dr Bawumia and Finance Minister Ken Ofojustified the exercise
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The government’s decision not to introduce new taxes in the 2021 mid-year budget statement shows that the cries of Ghanaians have for once been heard by the managers of the economy, a senior lecturer at the University of Ghana Business School, Dr Lord Mensah, has said.

Dr Mensah commended the Finance Minister and his team for a good mid-year budget statement.

He told Dzifa Bampoh on the First Take on the 3FM Thursday July 29 that the fiscal document is impressive.

Mr Ofori Atta told Parliament that for the first time in the history of the fourth republic, the exchange rate did not see a spike after an election year.

He explained that cumulatively, from the beginning of the year to date the exchange rate has depreciated by 0.6 per cent against the US dollars  and appreciating  by 3.6 per cent against the Euro.

“For the first time in the fourth republic the exchange rate did not  see a spike after an election  year.

“Cumulatively, from the beginning of the year to date the exchange rate has depreciated  by 0.6 per cent against the US dollars  and appreciating  by 3.6% against the Euro,: he stressed.

He further told the House that he did not come to ask for more money..

He also said he did not come for more taxes rather, he came to update the House and the country on the performance of the economy during the first half of the year.

“I have not come here today to ask for more money, I have not come to ask for more taxes, I have come to update the house on the performance of the economy for the first half of the year,” he said amidst claps from members of Parliament.

Asked whether he was satisfied with the presentation, Dr Lord Mensah said “I will say indeed I was somehow satisfied. I think for once the cry of Ghanaians have fallen into the good ears of the economic manager.

“If you look at the situation on the ground now, the Finance Minister and his team couldn’t have afforded than to maintain the status quo to ensure that we stay within the fiscal appropriation that we called for.

“If you look at our debt situation and then happenings across the globe ,I was not expecting the Finance Minister to request for more money to revise the budget deficit that was read in November, for 2021.

“Clearly, it shows that as a country we have positioned ourselves to be conserved, to be prudent in our call for money. The situation is not that easy.”

By Laud Nartey|3news.com|Ghana

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