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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
Ghana’s parliament has marked the 2nd edition of May Day 2026 under the theme “ Welcome Home”.
It was special day meant to celebrate the invaluable support of the workforce, recognizing the commitment, resilience, and contributions of workers to institutional growth and national development.
Delivering the message on behalf of the Speaker, the 1st Deputy Speaker, Bernard Ahiafor, described the theme as very apt, appropriate, and timely, noting that Parliament is more than a workplace, it is a shared home.
He emphasized that we cannot speak about work without speaking about people, reminding everyone that the true measure of our work is the well-being of our people.
He urged that our traditional clothing become an integral part of our everyday clothing, and that our local languages must become integral to our daily lives, interwoven into education and practiced at home.
Referencing Standing Order 63, which captures the use of local language as optional in deliberations, he encouraged a renewed commitment to identity, saying it is significant that we “come home” and present who we are so future generations can inherit a story they can fully tell.
The Clerk, Mr. Ebenezer Ahumah Djietror, in his remarks commended officers for their dedication and devotion to duty, calling on them to go the extra mile and leave legacies.
Echoing the reminder that an unexamined life is not worth living, he described the event as an invitation to reconnect with our roots through cultural revival.
The Deputy Clerk, C&FMS, Dr. Gloria Sarku Kumawu, urged all not to forget their roots, the people behind the stories of ministries, industries, and the strides made both in-house and beyond.
What began last year has now become a meaningful tradition, showcasing Ghanaian heritage, fostering unity, and encouraging innovation under the principle of diversity for unity and diversity for progress, she added.
The gathering brought together leadership, public officials, and staff across all levels, along with the media, standing as a unifying platform that honored service, celebrated culture, and reaffirmed a shared commitment to national development.
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Manhyia would serve as Ghana’s unifying force …Otumfuo assures on commemoration of 27 years on the Golden Stool
The Asantehene, Otumfuo Osei Tutu II, last Friday celebrated his 27th enstoolment with a colourful and culture-rich ceremony at the Manhyia Palace in Kumasi, drawing a distinguished gathering of dignitaries from across Ghana and beyond.
Clad in splendid kente and adorned in rich traditional regalia, the dignitaries added colour and elegance to the occasion, as the palace grounds came alive with a vibrant display of Ghanaian culture.
Traditional drumming, dancing and symbolic rites underscored the deep-rooted heritage of the Ashanti Kingdom, captivating guests and reaffirming the value of tradition in modern society.
Speaking at a high-level Executive Gala organised by the Diaspora Affairs Office of the Office of the President in strategic partnership with the E ON 3 Group, the ‘World-Meets-in-Ghana’ gala, the Asantehene urged Ghanaians to guard against the divisive tendencies of partisan politics.
The event was to honour the Asantehene’s nearly three-decade reign under the theme ‘Advancing Peace and Sustainable Economic Development through Royal Vision’.
Otumfuo Osei Tutu II noted that such attitudes threatened the country’s long-standing values of unity, civility and brotherliness.
He assured that Manhyia would continue to serve as a unifying force for the nation.
The celebration also featured the presentation of commemorative gold coins to notable national leaders, including the President, John Dramani Mahama, former Presidents John Agyekum Kufuor and Nana Addo Dankwa Akufo-Addo as well as Dr Mahamudu Bawumia, a former Vice President in recognition of their contributions to peace and national development.
By Spectator Reporter
