The Ministry of Finance has held a one-day workshop on the 2024 budget statement and economic policy for members of IFEJ, Parliamentary Press Corps and Public Affairs of Parliament.
The one-day workshop was held at the Accra International Conference Centre (AICC) on Tuesday.
In a speech read on behalf of the Chief Director of the Ministry of Finance, Eva Mends; Acting director of budget, Thomas Appiagyei said "The Budget Statement as we know is on the authority of His Excellency the President of the Republic of Ghana in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921)"
"The Budget under the theme, 'pursuing growth and development within a stable macroeconomic environment' is in two volumes and has outlined many policy actions that will result in growth in a macroeconomically stable environment. Volume one is the usual version of the budget we are familiar with and volume two highlights the sectoral performances of the MDAs from 2017 to date"
He added that the rationale behind the volume two was to provide Ghanaians an update on projects and programmes undertaken by the various MDAs and their impact on the economy.
He hinted that through that, people will appreciate what government uses their taxes for, as evidence of the work done for all to see.
"After the budget presentation we have had a number of vibrant media commentaries that show the keen interest with which the general public, especially key stakeholders, followed the budget. I personally don’t want the momentum to die, because they help us plan to make the needed adjustment and explanations here and there"
"This morning’s technical briefing will look at the overview of the budget and the macro fiscal performance envisaged for 2024 budget, our way forward with the IMF under the PC-PEG, and the key priorities for 2024"
"Clearly, as the Hon. Minister has been saying, we’ve turned the corner with macroeconomic indicators moving in right directions; Inflation has steadily decreased from high of 54.1% in Dec. 2022, to 38.1% (end Sept 2023); Exchange rate has stabilized with a modest depreciation of 4.7% (since February, 2022); Economic growth has been resilient and exceeded projections. We can beat our chest that by all indications our future growth prospects are certainly brighter"
Mr. Appiagyei also noted that the budget has spelt out several policy interventions that will culminate into growth in a macroeconomic stable environment.
These, he stated include a raft of tax measures, including reductions, to cushion citizens as the economy leaps gradually from recovery to stability.
"These good policies must be communicated in a deliberate and intentional manner to Ghanaians. You will do Ghana and yourselves the greatest disservice if you engage in commentaries without getting the source of your information right and that is why we have gathered here for this all-important national assignment"
"Several stakeholder groups, including academia, Information Services Department, and members of parliament, would be taken through the overview of the Budget Statement, Macro fiscals and update on the IMF engagement and the Debt issues, as part of our standard practice under Post-Budget Sensitization programmes"
Story by: Joshua Kwabena Smith
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