Mr James Korsah-Brown, the Public Financial Advisor at the State Interest and Governance Authority (SIGA) has said that 2022 budget highlighted some relevant instruments which would cushion the economy going forward.
Thus, the budget was fit for purpose and was on the path of recovery with major boost on youth development.
Mr Korsah – Brown made the revelation in an interview with the Ghana News Agency (GNA) in Saltpond giving thoughts on the 2022 budget.
He said One of the key areas which suffered setback previously was revenue mobilization hence it was expected that flourishing economies will be levied to redistribute resource.
Mr Korsah- Brown who was an aspirant for the 2020 New Patriotic Party (NPP) Parliamentary primaries in the Mfantseman constituency commended the government bold steps to quickly recover from revenue shortfalls to fund key activities which brings efficiency to the macroeconomy.
On Government YouStart Program, Korsah- Brown said with a seed of GHS10billion will have a capacity to create over two million jobs over the lifespan of the project.
He added that if averagely a GHS 20,000 is availed to an entrepreneur with each creating ten jobs, that comes to 2million jobs over the period.
“The jobs created and individuals employed will create a cycle of contributing to the revenue pool and this will eventually improve the revenue position, create jobs and improve the Gross Domestics product (GDP)”, he added.
Mr Ken Ofori- Atta, the Finace Minister on Wednesday November 17 read the 2022 budget to the public and it touched on key areas such as expense and revenue mobilization.
One of the key areas which was considered was entrepreneurship to convert the nation from job seekers to job creators.
As an introduction to the budget, the minister indicated how the economy was on the growth trajectory until it was eventually hit by the corona virus pandemic.
He emphasised that the first phase of government’s strategy was to protect lives, which saw lockdowns hence affecting economic activities.
The Minister said that the economy suffered major setbacks and had to be repositioned for the future, over 2.8million people covering over 400,000 families were fed for free, and over GHS 11million was spent to support students in schools to combat the virus.
Over GHS 523million loans were availed to some over 302,000 as soft loans under the Ghana Enterprise Agency.
In all, the public expense went up whiles the revenue position rather went down due to key waivers, concessions and supports.