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Ofori-Atta presents 2018 Budget November 15

Finance Minister Ken Ofori-Atta will present the 2019 Budget and Economic Policy to parliament on 15 November 2018.

This was disclosed by Speaker of Parliament Professor Mike Oquaye in his welcome address to MPs as the House resumed from recess on Tuesday, 30 October 2018.

Professor Oquaye said the presentation will hopefully be followed by a post-budget workshop and the consideration of the sectorial budget estimates by the committees of parliament.

Ahead of the presentation, Mr Ofori-Atta has said that the Akufo-Addo-led government has attained key milestones in the economy within its 22 months in office, despite the global economic downturn.

Ghana, he said, has been able to achieve a credit upgrade from B- to B status with a stable outlook for the first time in almost a decade, as a result of the government’s prudent monetary and fiscal policies.

Mr Ofori-Atta said that for the first time in almost a decade, the debt dynamics have declined with surplus primary balance while the country has successfully issued bonds on international markets during a global economic down-swing.

The government, the minister noted, is striving to structurally transform the economy through investment in agriculture, strategic infrastructure development, investment in human capital and a deliberate push towards industrialisation, with active private sector involvement to create jobs and wealth in order to improve incomes of Ghanaians as well as their standards of living.

Addressing participants of this year’s stakeholders’ meeting held at Kumasi in the Ashanti Region on Friday, 19 October 2018 to solicit ideas prior to the preparation of the 2019 Budget, Mr Ofori-Atta noted that the slow pace of economic growth caused by energy challenges and a lack of an enabling environment for the private sector, among others, in the past, severely affected the fiscal space and undermined the prioritisation of government’s policies.

Source: Ghana/ClassFMonline.com

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