Finance Minister Ken Ofori-Atta is expected to present the 2022 Budget Statement to Parliament, today [Wednesday, November 17, 2021] on behalf of the President.
The Budget, according to the Ministry, will focus on expanding the economy’s recovery from the COVID-19 pandemic.
The budget would dwell on “creating a climate-friendly entrepreneurial state to address unemployment and import substitution,” it said in a statement, on Monday.
Ahead of the presentation, some financial and economic analysts as well as professional and trade organisations have expressed varied expectations on the Budget.
Members of the public have also expressed their concerns and interests, especially on tax cuts and job creation interventions.
Whereas some analysts have urged the Government not to introduce new taxes, others have also called for the widening of the tax net to enable the government to meet its revenue targets.
The Ghana Union of Traders’ Associations (GUTA) has, for instance, appealed to the government to implement policies that would reduce the cost of doing business in the country.
The Institute for Statistical, Social and Economic Research (ISSER) of the University of Ghana has also urged the Government to introduce policies that would ensure efficiency in the country’s tax administration.
The statement from the Ministry, however, mentioned the digitalisation of the economy, skills development and entrepreneurship as part of the key issues in the presentation.
The presentation of the National Budget Statement to Parliament is in accordance with Article 179 of the 1992 Constitution and Section 21 (3) of the Public Financial Management Act, 2016, (Act 921).