Awineyesema Abiire, a lecturer at Bolgatanga Technical University, has praised Finance Minister Dr. Ato Forson’s budget statement, describing it as a testament to the Mahama government’s intellectual prowess.
Mr. Abiire expressed admiration for the Finance Minister’s presentation, stating that it proves the government has “men with brains”.
The lecturer’s commendation comes after Dr. Forson presented the budget statement to Ghanaians on Tuesday, outlining the government’s financial plans and policies. Abiire’s salute to the Finance Minister reflects the positive reception of the budget statement by some stakeholders.
Read of his views
- Hon. Dr. Ato Forson and his team at the MoF have proven to all men of reasonable economic comprehension that the government did not appoint empty-headed men to run the economy.
- Even though some of my expectations, including extending School Feeding Program to Junior High Schools, increasing allocation to DACF to 10%, and committing a minimum of GHS 2,000 a month as allowance to Assembly members were not met, I would still rate the Economic Document as the best in a decade.
- The proposed VAT reforms will see expansive growth in businesses and enhance compliance
- Reducing the Tax Refund account from 6% to 4% is a prudent way of stopping the ongoing abuse and public financial misapplications
- The increased Growth and Sustainability levy from 1% to 3% is the best thing to do. A country whose natural resources do not take care of it is a demonic state controlled by cynical criminal leadership. In the long run, steps should be taken to negotiate for a Production Sharing Arrangements (PSA) of our natural resources
- The bold intention to commit 80% of DACF allocation to Assemblies is a plus. This, however, does not still comply with section 173 of Local Governance Act, 2016 (Act 936) if the rationale for decentralization whose benefits remain beautiful in theory but lost in practice are to be realized
- Free SHS Program now has a dedicated funding after several years of helplessness. The GET Fund Act, when amended would lead to budget solvency in that wing of educational endeavours
- Proposed amendment of the Petroleum Revenue Management Act, 2011 (Act 815) will see District Assemblies benefiting directly from petroleum receipts. This economic policy will significantly improve the development index of assemblies. To confront poverty and enhance local economic empowerment, however, would require capacity building for Assembly Members to actively participate in local government financial management
- The document has also largely brought an end to ‘kelewele’ approach to borrowing. The proposed prudent and planned management of public debts and guarantees will eventually lead us to Ethiopia’s public financial management strategy-RIS (Recognize, Improve and Sustain). Having identified the weaknesses and bringing the required practices and scrutiny to correct and improve our public financial performance, the integration of GHANEPS with GIFMIS will surely sustain our country in a league of dignified and respected countries in the global landscape
- It must, however, be noted that the budget is just an input document and until the seven pillars of Public Expenditure and Financial Accountability (PEFA) mechanisms are followed copiously, the output document (Auditor-General’s report) in less than 12 months from now will be littered with financial malfeasance and recidivism
Source: Apexnewsgh.com
