Author: Akumaa GhanaMPs

This is expected to be done on the back of a portion of VAT receivables as prescribed in Act 581.
Finance Minister, Ken Ofori-Atta who disclosed this to Parliament on Thursday when he presented the 2019 economic policy and Budget statement said the amount will be used for critical education infrastructure, especially to complete the numerous uncompleted buildings in secondary and tertiary institutions around the country.

GETFUND, one of the critical statutory expenditure avenue sources which has ensured the provision of several educational facilities across the country has suffered inadequate funding for a long time.
This has stalled several GETFUND funded projects across the country.

As a result, the US$1.5 billion long-term financing when secured will bring a new breathe into the fund.

By Christian Kpesese/ ghanamps.com

As a means of boosting livestock production in the country, Government will soon launch the livestock model of Planting for Food and Jobs.

The move to be christened “Rearing for Food and Jobs” (RFJ) with the objective of increasing the production of selected livestock, especially poultry is largely aimed at revamping the entire agriculture sector of the economy.

Finance Minister, Ken Ofori-Atta disclosed this to members of Parliament when he presented the 2019 Economic Policy and Budget Statement to Parliament said the initiative will reduce Ghana’s food import burden.

“We believe we can leverage the PFJ and RFJ programmes and our other efforts in agriculture to reduce our large food imports. As a country, we spend over $2 billion every year importing food. For example, we import over a billion dollars of rice, $ 320 million of sugar, and $374 million of poultry” he said.

The Minority on the other hand indicated that the budget portends no hope and it just remains a rehash of the old budgets.

By Christian Kpesese/ ghanamps.com

The second ordinary session of the Economic Community of West African States (ECOWAS) Parliament of the fourth legislature, open in Abuja on Thursday the 15th of November 2018.

Lawmakers from the West African sub-region attended the opening of the ordinary session in their numbers, and is going to last for a month.

The first day witnessed consideration and adoption of the 2019 programme of activities; September 2018 extraordinary report, consideration of standing joint and Ad hoc committees and establishment of an ad hoc committee to consider the draft of the 2019 budget  of the community.

Today Friday the 16th of November 2018 would witness presentation of country reports for discussion by the community.

There would be committee meetings in this session which would last for a month ending on the 14th of next month.

By: Kwaku Sakyi-Danso/ghanamps.com

Liberia’s permanent representative to the Economic Community of West African States (ECOWAS) Parliament and Ambassador to Nigeria, Benin and Equatorial Guinea, Professor Al-Hassan Conteh has said a single African currency would promote integration in the region.

According to the Liberian Ambassador it is one of the agenda items for the second session of ECOWAS Parliament meeting for Parliamentarians to see how the converges can be done.

“We have French and English speaking countries coming together, there are a lot of micro economic issues that have to be worked out”.

He made this remarks in Abuja in an interview with journalists at the opening of the second session of ECOWAS Parliament on Thursday November 15, 2018.

Professor Al-Hassan Conteh further pointed out that, when achieved it would take Africa to the point that it would be competitive to other world regional blocs like the European Union and other united blocs.

At the West African sub-regional level he noted that, we are more than one billion people,  with a Gross Domestic Product (GDP) of two trillion, a for a formidable comparative advantage for West Africa as a bloc.

By: Kwaku Sakyi-Danso//ghanamps.com

Speaker of the Economic Community of West African States (ECOWAS) Parliament, Moustapha Cisse  Lo   has cautioned Members of Parliament (MPs) representing Nigeria in the community legislature against absenteeism.

According to the Speaker, the second ordinary session is opening against the back drop of the electoral fever in Nigeria, which would have its Presidential and legislative elections in February 2019.

To elect a President of the Republic and members of the National Assembly, he wished the thirty-five (35) members of the ECOWAS well.

He was quick to add that, Nigerian must not use the process of election as an excuse for absenteeism and added that ECOWAS understands the time in which members of the Nigerian delegation are in, but was quick to point out that the second ordinary session is a budgetary session.

The first quarter of next year will, without doubt be affected by the general elections in Nigeria and Senegal, the role of the community Parliament in monitoring these elections will be crucial in strengthening and establishing the credibility of the election he said.

Speaker Moustapha Cisse-Lo further emphasised that in an agreement with the ECOWAS Commission, they have decided to include a budget for election monitoring in the 2019 budget; “number of Parliamentarians on the observer mission will be strengthened, but maintain in the ECOWAS observer corps”.

By: Kwaku Sakyi-Danso/ghanamps.com

In accordance with article 179 of the 1992 constitution, the Minister responsible for Finance, Ken Ofori-Atta will in few minutes present Government’s Economic Policy and Budget Statement for the financial year ending December, 31, 2019 to Parliament.

This will be the third budget reading under the Nana Akufo Addo led government and will be the first post International Monetary Fund (IMF) conditionality Budget under the New Patriotic Party Government.

Mr Ofori-Atta is also expected to present to Parliament the 2018 Annual report on the Petroleum Funds in accordance with section 48 of the Petroleum Revenue Management Act, 2011 (Act  815) as amended.

The 2019 is largely expected to consolidate the gains chalked under the 2018 budget christened “Asempa (Good News) Budget.

The opposition National Democratic Congress (NDC) claimed the 2018 Budget was largely focused on consumption and has therefore urged the need for the 2019 budget to focus on production and infrastructure in order to generate growth and employment.

By Christian Kpesese/ghanamps.com.

The Minister of Finance Ken Ofori-Atta said the 2019 Economic policy and Budget statement is on the theme: “a stronger Economy for Jobs and Prosperity” as he presents same to Parliament.

The budget he said is expected to “accelerate the programme of growing the economy, protecting the vulnerable, and creating jobs and prosperity for the Ghanaian people over the next financial year”.

According to the Minister, the seeds sewed today will achieve sustainable results by putting Ghana on an irreversible path of enviable empowerment.

He also intimated that the President is delivering on his social contract with Ghanaians.

“With all the humility I can muster, Mr. Speaker, permit me to say that I am proud to say that the Akufo-Addo government is delivering on this four-year resounding mandate that the people of Ghana has given us. This is evident in the impressive strides the nation has made in the past 22 months” he stated.

Christian Kpesese/ghanamps.com

The Minister of Finance Ken Ofori-Atta has told Parliament that the New Patriotic Party Government has paid 80% of the troubled DKM customers.

“I would like to inform the country that out of the 99,858 claims, 79,708 (80 percent) have

been settled and depositors have been paid” he stated as he present the 2019 Budget statement to the lawmakers.

The situation he said has significantly changed under the current Government as steps are being taken to settle almost all claims of DKM customers since the previous administration failed to resolve the challenge.

Mr. Speaker, you would recall that DKM Diamond Microfinance Limited had its license revoked in February 2016 with considerable suffering imposed on depositors, without any meaningful response from the previous government.

He noted that the official liquidator received 99,858 claims and the validated claims amounted to GH¢502 million as government has set aside funds at the Bank of Ghana to pay the remaining 20 percent of depositors upon validation.

The Minister disclosed that an additional 12,612 claims have been fully provided for, but the customers have not as yet been able to show proof of deposit.

Former President John Dramani Mahama recently urged DKM customers to force the Akufo-Addo government to repay their claims as promised during the 2016 electioneering campaign season.

By Christian Kpesese/Ghanamps.com