2023 mid-year budget was empty – GUTA
GUTA President, Dr. Joseph Obeng, criticized the 2023 mid-year budget read by Finance Minister Ken Ofori-Atta on July 31, 2023, labeling it as empty. He expressed disappointment that the government didn’t address the high cost of doing business and neglected to revise the taxes on goods. Dr. Obeng also highlighted the steep rise in utility prices, which has taken a toll on the business community.
In an interview on TV3’s Ghana Tonight program, he remarked, “The budget did not touch on the high cost involved in doing business, no revision on taxes, high-interest rate and high inflation issues have not been solved. Inflation from 53% to 42% is not acceptable, nothing has changed, there is no new thing in the budget.”
He urged the government to reduce its expenditure to save money and alleviate the burden on Ghanaians amidst the economic crisis. Dr. Obeng stressed the need for stringent measures to provide relief to the people.
The mid-year budget review is mandatory under the Public Financial Management Act 2016, aiming to update the House and citizens on the government’s economic progress and propose necessary adjustments to budgetary allocations and policies.