On November 15, as expected, the Economic Policy for 2023 and the Budget Statement for Ghana may not be read.
The current negotiations with the International Monetary Fund (IMF) may cause the presentation to be postponed, according to Majority Leader Osei Kyei-Mensah-Bonsu.
According to the Public Financial Management Act, the budget must be provided within the next two weeks.
The deadline now seems improbable, according to the Majority Leader, as discussions over a bailout continue between the Finance Minister and the Fund.
The Suame MP, however, stated to journalists that an IMF delegation is anticipated in the nation the next week for additional negotiations.
“However, if you want to do a tidy job, you might need some room to work in. Since these are not typical times, as you are all aware, he stated on Thursday.
For him, if the House is to proceed on the designated day, the deal’s circumstances may put too much pressure on the procedure.
Nothing that will eventually turn ambiguous should be done. To improve us from where we are as a nation, they want to have the best. Given that, I believe there will be too much pressure to complete it by the 15th if we want to do a comprehensive job.
He claimed that because the constitution specifies November 30 as the deadline for the statement, this action will not violate the procedure.
He stated, “We need more time to examine the guiding ideas of the budget.”
The Suame lawmaker promises to consult the finance minister over the potential new date and to follow up with a statement outlining whatever decision is made.
Budget thrown out of gear
On Sunday night, President Akufo-Addo acknowledged that the 2022 budget has already gotten out of hand.
The President said he is aware of the rise in the cost of living in the nation and the economic challenges facing Ghanaians while addressing the nation on the state of the economy.
He claims that the country’s 2022 budget is now obsolete due to the country’s economic problems.
“For us in Ghana, the reality is that we are having a lot of trouble with our economy. Our ability to maintain a sustainable balance of payments and manage our debt has been disrupted by the budget that was created for the 2022 fiscal year, further highlighting the underlying flaws in our economy.
“I am not exaggerating when I say that we are in a crisis. “I can’t think of a single instance in history where such a confluence of evil forces has occurred, “declared the President.
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