Category: General

Finance Minister, Ken Ofori-Atta has reiterated President Nana Addo Dankwa Akufo-Addo, government’s determination to the fight against corruption.

As a result the Government has given the Office of the Special Prosecutor an amount of GH¢180 million with a promise to provide more resources in the course of 2019. This is to help the Office carry out its mandate.

Mr Ofori-Atta disclosed this on the floor of Parliament Thursday, November 15, 2018 when he presented the 2019 budget statement and economic policy.

He stated that President Akufo-Addo is poised to fulfill his promise of protecting the public purse.
“The Special Prosecutor’s Office which is established under the Office of the Special Prosecutor Act 2017 (Act 959) is one of the highest priorities of government,” he insisted.

“In this budget, the Special Prosecutor’s Office has been allocated an amount of GH¢180 million from GoG with a commitment to provide additional resources during the course of 2019 to enable the Special Prosecutor’s Office to carry out its mandate” he stated.

By Christian Kpesese/ ghanamps.com

The Minority National Democratic Congress (NDC) members of Parliament have variously described the 2019 budget statement and economic policy delivered by Minister of Finance, Ken Ofori-Atta in various terms.

Some described it as made in China whiles others say is a hopeless budget, “Ahokyere budget” among others.

The Minority members were seen displaying placards with various descriptions including “TRAMOL budget” on the budget.

The presentation of the budget statement which was on the theme: ‘A Stronger Economy for Jobs and Prosperity’ took the Finance Minister almost four hours to present.

By Christian Kpesese/ ghanamps.com

Government has acknowledged the Ghanaian economy is going through very tough times but has assured and is optimistic that the 2019 budget christened ‘Mputuo’budget will assuage the hardships and restore growth.

Finance Minister, Ken Ofori-Atta gave the concession and assurance when he presented the 2019 budget statement in parliament on Thursday.

He stated “We have managed to ease the hardships. We are not there yet, we have a long way to go, what is clear is the nation is moving forward under this government”.

Mr Ofori-Atta also expressed government’s resolve to deliver the future and provide hope for the citizenry.

“We are set deliver a future that meets the aspirations and hope of all Ghanaians in this budget” he assured.

Government he said is aiming to narrow its budget deficit to 4.2 percent of gross domestic product in 2019 and forecasts GDP growth of 7.6 percent including oil.

Again government he said has targeted an inflation of 8 percent by the end of next year, the same as its 2018 target.

He also assured government will intensify compliance measures and broaden the tax net to augment revenue mobilisation.

By Christian Kpesese/ ghanamps.com

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.