Finance Minister Ken Ofori-Atta is due to give the government’s 2024 Annual Budget Statement and Economic Policy to Parliament, today, November 15, 2023.
The Finance Minister will carry out this constitutional procedure on behalf of the President, Nana Addo Dankwa Akufo-Addo.
The presentation of the budget was in doubt due to the lack of a communiqué from the Finance Ministry, but a statement issued on Tuesday, November 14 reiterated and ensured of the presentation.
“In accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921) the Minister for Finance will, on behalf of the President, lay before Parliament the Budget Statement and Economic Policy of Government of Ghana for the 2024 Financial Year, on Wednesday, 15th November, 2023,” the Ministry of Finance said in a statement.
Before the presentation, groups such as the Ghana Union of Traders’ Association (GUTA), the Food and Beverages Association of Ghana (FABAG), the Importers and Exporters Association of Ghana, and a slew of other trading associations urged the government to implement major tax cuts to ease the economic and financial burden on Ghanaians.
The Concerned Drivers Association of Ghana also advocated for the reinstatement of road tolls in the budget to assist in the rehabilitation of Ghana’s deteriorating roads.
Some Members of Parliament have also urged the government to share the hardship of Ghanaians by cutting spending rather than raising taxes.
Financial analysts had urged the government to prioritize revenue generation while reducing its expenditure.
