Finance Minister, Seth Terkper
An Economist at the Institute for Fiscal Studies (IFS), Leslie Dwight-Mensah, has described as abysmal government performance on its implementation of the 2015 budget.
According to him, the projections and promises made by the government on the challenges facing the country is getting worse.
“The 2015 budget performed poorly because one of the goals of the government is to stabilize the micro economy but the ruling government failed to achieve that,“ Dwight-Mensah said.
The Economist was reviewing the 2015 Budget on Wednesday on Adom FM’s “Burning Issues” programme hosted by Afia Pokua.
Finance Minister Seth Terkper will present the 2016 budget statement to Parliament on Friday November 17 in what many analysts believe would be critical to steps by government to put the economy on track.
For close to three years now most businesses in the various sectors of the economy have been going through a number of challenges in a bid to stay afloat.
With high interest rates, never ending power crisis and a depreciating currency among others, most companies have had to be tactical to survive.
“The government promised to reduce cost of living in the 2015 budget, but on the contrary what are we seeing, inflation has been higher and higher we’re seeing the rate of economic growth decline to its lowest in more than twenty years” Leslie Dwight-Mensah emphasized.
He said the ongoing energy crisis has crippled the country’s economy and also it has seriously affected industrial development and deepened the unemployment problem in Ghana.
Ahead of the 2016 budget presentation, Dwight-Mensah said government must provide measures to end the current power crisis.
He added that the government must also find ways of improving job creation in the country and also look at the agriculture sector.
By Abednego Asante Asiedu