Business News of Friday, 30 November 2018
Parliament on Thursday granted a request by the Government of Ghana to withdraw over GH¢73 billion from the Consolidated Fund and other government funds to finance development projects.
This follows the House’s approval, after a marathon motion debate on the 2019 budget and financial policy statement of government presented to the House by Finance Minister Ken Ofori Atta two weeks ago.
As a sequel to the approval, the House would be expected to endorse the allocations to the Ministries, Departments and Agencies, and then pass the Appropriation Bill.
Both Sides of the House had scrutinized the budget, with the Minority Side expressing reservations on fulfillment of the promises of Government in the budget even before it was read.
The debate on the motion ended with leaders of the both the Minority and Minority making their contributions on the motion.
Minority Leader and MP for Tamale South Haruna Iddrisu blamed Government for failing to achieve economic targets for 2018, and that of the coming years dwelt on borrowing.
He said the government of the majority New Patriotic Party (NPP) had contracted loans more than GH¢50 billion over the two years in office, but there was nothing to show for it.
The Government, he said was pumping the monies into unproductive sectors of the economy, adding that, the financial sector was crumbling under the NPP Government as it continued to record negative growth in the two years of being in office.
The free Senior High School, he said, though noble, cannot stand strongly on its feet, and that the now Minority National Democratic Congress (NDC), when in power performed better in terms of social intervention and protection programmes.
However, Majority Leader Osei Kyei-Mensah- Bonsu gave thumbs up to the governing NPP on the management of the economy, explaining that, in only two years, the economy had picked with improved GDP growth and reduced inflation.
He was of the view that there was no basis to engage the opposition and its elements in a debate since the figures speak for themselves,” and called on Ghanaians to support the Akufo-Addo Government as it strives to improve the living condition of Ghanaians.