Minister of Finance, Ken Ofori Atta is expected to be in Parliament today November 15, 2017, to present the 2018 Budget Statement and Economic Policy of the government.
He will perform this assignment on behalf of the President of the Republic, Nana Addo Dankwa Akufo-Addo.
This would be the second budget of the Akufo-Addo administration to be presented by the Finance Minister Ken Ofori-Atta, after his first in March 2017, christened the Asempa budget.
President Akufo-Addo has said the 2018 budget statement and fiscal policy will focus largely on job creation.
The President said the budget will give meaning to his government’s industrialization agenda which primarily focuses on the creation of jobs.
But the Minority at a pre-budget economic assessment forum indicated that, the government’s boast of a massive boost in jobs will be a mirage on the heels of the tight monetary policy by the Central Bank.
“How can you create jobs under severe austerity under fiscal consolidation? The budget deficit in IMF article 4 is projected to be 3.8, so ladies and gentlemen, next year, let us be assured that there will be severe austerity equivalent to 1983. How can you create jobs when you have mandated the central bank to pursue tight monetary policy? How can you create jobs when the real sector, the non-oil GDP, is projected to grow in 2018 almost at the same level as 2016?”
“We believe that unfortunately, government economic policy for 2018 will bring about severe hardship and Ghanaians must be well informed,” Minority’s Spokesperson on Finance, Cassiel Ato Forson said.