The market reacts well to predictability, certainty and decisiveness – Gabby on approval of 2023 budget

A leading member of the New Patriotic Party (NPP) Gabby Otchere-Darko has commended Parliament for the way and manner it handled the 2023 budget statement.

The 2023 budget statement was approved by the House on Tuesday December 6.

During the debate in Parliament that day, the Minority asked the government to embark on heavy expenditure cuts in order to deal with the challenges facing the economy.

The Minority Leader Haruna Iddrisu said some of the tax handles of the government would suffer if the administration does not cut spending

“It is the demand of this group that there most be major expenditure cuts otherwise some of your tax handles will suffer in our hands. For instance, GHS1.4billion allocation to contingency vote , we shouldn’t give him that,” he said.

The Majority Leader Osei Kyei-Mensah-Bonsu for his part said “Some roads have begun, Intention is to ensure that they don’t deteriorate, they are not left unattended to.”

The House is yet to approve the Appropriation Bill.

Commenting on this in a tweet, Mr Otchere-Darko who is also a former Executive Director of the Danquah Institute said “Besides debt restructuring, we can’t rule out the positive impact of the quick decision by Parliament to pass the budget on the strengthening of the cedi.

“The market reacts well to predictability, certainty & decisiveness. This attitude of Parliament to the crisis is commendable!”

By Laud Nartey||Ghana

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