The budget for the year 2018 will be presented by the Finance Minister, Ken Ofori-Atta to parliament today, Wednesday, November 15, 2017.
The budget, which is expected to address and find solutions to major areas such as revenue collection, job creation, infrastructure, agriculture, debt management, corruption, economic stability, public sector reforms, education, entrepreneurship among others will be the second of its kind by the Akufo- Addo government.
President Nana Akufo Addo, earlier hinted that the 2018 budget will focus largely on job creation and will give meaning to his government’s industrialization agenda.
“The Finance Minister will present the budget to Parliament and it will focus on job creation. The Finance Minister is a magician; he finds resources at places you never expect him to find” the President said.
He also assured industry players and Ghanaians that the budget will capture a reduction in electricity tariffs across the country.
Sources have predicted that the government will spend a total of GH¢61 billion Ghana cedis to stabilize the economy as well as possibly execute the initiatives of the 2017 budget.
The financial statement is also expected to allocate GH¢150 million to develop Zongo communities nationwide, GH¢700 million to the Agricultural Marshall Plan, GH¢1.2 billion for the free SHS programme, GH¢480 million for the payment of nursing and teacher trainee allowances, and GH¢430 million likely to be allocated to government's flagship One district, One factory programme.
The Minority in Parliament has however criticized government ahead of the budget reading, claiming the country will experience severe hardships similar to the 1983 famine by 2018 adding that, considering the current debt situation, Ghana may return to the HIPC status (Highly Indebted Poor Country) by the end of 2019.
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