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2024 Budget will deal with issues of high taxes, rising cost of doing business – Ofori-Atta
The Finance Minister, Ken Ofori-Atta has disclosed that the 2024 budget will come out with programmes and initiatives that will deal with the high cost of doing business in the country.
He assured that the budget will also address concerns of “high and many taxes” affecting the private sector.
Mr. Ofori-Atta disclosed this on PM Express Business Edition with host George Wiafe on October 19, 2023.
“It’s very important that looking at where we are as country, everything must be done to support the private sector to help them play a critical role in the recovery of the economy”, he said.
“We have met all the interest groups from the private sector and their concerns will definitely be taken on board when it comes to the 2024 budget,” he promised.
Mr. Ofori-Atta also announced that the ministry has met all relevant stakeholders and unions.
“We have also met with Association of Ghana Industries, Ghana Chamber of Commerce and Industry, and the Ghana Union of Traders Association, and predominately issues about taxes have been their major priority and we have to deal with it”, he said.
He stated that there will be a Mutual Prosperity Dialogue engagement with the private sector before the budget presentation.
2024 Budget Presentation
In terms of Focus, the Finance Minister also disclosed that government will be looking at how to get the private sector back “into stable” position.
“This is because the government cannot do everything, so the private sector needs to be supported to help managers of the economy when it comes to job creation”, he added.
Ghana’s Financial Administration Act requires Parliament should by December 31 of each financial year should consider and approve the Annual Budget for the ensuing financial year.
However, based on this directive the 2024 Budget should then be presented before the end of November 2023. This will afford parliament enough time to scrutinize and deliberate on the budget, before the beginning of the New Year.
Finance Minister also disclosed that the 2024 Budget will be influenced by the Post COVID Programme for Economic Growht which is supported by the IMF in terms of intiatives aimed at supporting the recovery of the economy .
“This is because government cannot do everything, so the private sector needs to be supported to help managers of the economy, when it comes to job creation”, he added.
Ghana’s Financial Administration Act requires Parliament should by December 31 of each financial year should consider and approve the Annual Budget for the ensuing financial year.
However based on this directive the 2024 Budget should then be presented before the end of November 2023. This will afford parliament enough time to scrutinize and deliberate on the budget, before the beginning of the New Year.
Finance Minister also disclosed that the 2024 Budget will be influenced by Post COVID Programme for Economic Growht which is supported the IMF in terms of intiatives aimed at supporting in the recovery of the economy .
“We are targeting to present the Budget to parliament by November 15 2023” the Finance Minister disclosed
Expansion of the Economy
The Finance Minister also announced that the Government will also implement programmes that will help in the expansion of the economy and sustain the recent recovery.
The Finance Minister also disclosed that government is looking at growth hitting more than 2.5 percent by December 2023.
“The IMF expected Ghana to do averagely about 1.5 percent, but they have already indicated that they will be reviewing that projection going forward. We believe that we are going to do better when it comes to the expansion of the economy,” he said.
“We are committed to instituting programmes that will help sustain the numbers that we are witnessing when it comes to growth,” he added.
Mr. Ofori-Atta stated that the government will, in all this, not leave out jobs especially for the youth, as it will be rolling out some new programmes to help deal with issues of jobs for the youth in the country.
Source:Myjoyonline.com
Vice President Jane Naana Opoku-Agyemang joined the Ahlus Sunna Muslim community at the forecourt of the State House to mark Eid, in the company of distinguished Imams, clerics, and fellow Ghanaians.
In her message, the Vice President highlighted Ramadan as a period defined by discipline, sacrifice, and moral renewal an opportunity for reflection, character building, and a recommitment to responsible citizenship.
She noted that the sacred observance reinforces shared values that unite the nation.
Extending warm Eid Mubarak wishes to the Muslim community in Ghana, Prof.Jane Naana Opoku-Agyemang called for continued peace, unity, and collective responsibility in building a harmonious society.
She further expressed hope that the blessings of Eid will bring joy to hearts, peace to homes, and strengthen national cohesion.
THE East Legon enclave in the Greater Accra Region is noted for housing the influential and affluent in society.
The area is synonymous with luxury mansions and ‘big-time’ businesses.
But within the same territory lies ‘Mempeasem,’ a community with a striking contradiction; it tells a totally different story.
‘Mempeasem’ translates from Twi, a local dialect, to “I don’t want trouble,” but the reality, however, is that the neighborhood is currently defined by a troubling disconnect between the admired reputation and its deteriorating infrastructure.
After publishing concerns expressed by a student in its ‘Write to the Editor’ column, The Spectator followed up to present detailed scenes of the sanitation problems in the area.
Residents are increasingly vocal about the lack of drainage systems, a deficiency that turns moderate rainfall into a logistical nightmare.
Without engineered channels for runoff, water settles in stagnant pools, eventually eroding roads.
The irony is sharp: billion-cedi homes often stand adjacent to clogged gutters and makeshift refuse sites.
The lack of public sanitation facilities and a centralised sewage system means that the environmental health of the area is constantly under threat, undermining the quality of life for its high-net-worth inhabitants and local workers alike.
Beyond waste and water, the community faces a broader infrastructure deficit.
Concerns about the prevalence of wooden structures in close proximity to refuse dump sites, where waste material is burnt, were raised; it’s a recipe for disaster.
The situation in Mempeasem is detrimental to public health and safety and serves as a wake-up call for urban planners and local authorities.
By Spectator Reporter
