Hello and welcome to our comprehensive text coverage of the 2022 budget reading.
Finance minister, Ken Ofori-Atta is on behalf of the president laying before parliament, the 2022 Budget Statement and Economic Policy of Government.
This is in accordance with Article 179 of the 1992 Constitution and Section 21 (3) of the Public Financial Management Act, 2016, (Act 921).
The budget, which is termed as the most anticipated in Ghana’s history is said to focus on expanding Ghana’s economic recovery from the COVID-19 pandemic.
The ministry of finance ahead of the budget reading in a statement hinted that the budget will among other things dwell on “creating a climate-friendly entrepreneurial state to address unemployment and import substitution.”
It also mentioned the “digitalisation of the economy, skills development and entrepreneurship as among the key issues in the presentation.”
Ken Ofori-Atta has, however, noted that creating an entrepreneurial state has been a challenge for the government, and hopefully the 2022 budget to deal with this problem.
Meanwhile, economic analysts have asked Ghanaians to lower their expectations of freebies in the 2022 budget.
According to them, the nation is broke and the Ghanaian economy is in shambles.
While some members of the trading community are calling on the government to implement policies that would reduce the cost of doing business in the country, other groups have also called for the widening of the tax net to enable government meet its revenue targets.