The Finance Minister, Ken Ofori-Atta, is set to present the government’s Annual Budget Statement and Economic Policy for the year 2024 to Parliament on Wednesday, November 15.
This constitutional exercise, carried out on behalf of President Nana Addo Dankwa Akufo-Addo, is a pivotal event that outlines the financial direction and economic policies for the upcoming fiscal year.
Despite initial uncertainties surrounding the budget presentation, a statement released on Tuesday, November 14, confirmed and assured the nation of the Finance Minister’s presentation.
The statement cited Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921) as the legal basis for the Finance Minister to lay before Parliament the Budget Statement and Economic Policy of the Government of Ghana for the 2024 Financial Year.
Leading up to the presentation, various interest groups, including the Ghana Union of Traders’ Association (GUTA), the Food and Beverages Association of Ghana (FABAG), and the Importers and Exporters Association of Ghana, among others, have called on the government to introduce significant tax cuts.
These groups emphasize the need to alleviate the economic and financial burdens on Ghanaians.
Additionally, the Concerned Drivers Association of Ghana has advocated for the reintroduction of road tolls in the budget.
Their call stems from the aim of generating revenue to address the deplorable state of Ghana’s roads, emphasizing the crucial role of well-maintained infrastructure in the nation’s development.
