Dr. Adu Sarkodie, an economist, has intimated that three months is not enough to review some of the policies which were in the main budget that was read by the Finance Minister.
He averred that the minister not touching on certain aspects, especially with the taxes during the presentation was good because, the time span from which the budget was read and the time it took effect is not enough for the nation to assess some of the policies.
“A typical example will be with the new taxes which were introduced. Three months is not enough to access the impact of policies. He was truthful to let Ghanaians know that he’s not revising the target, and three months was not enough to review the full impact of something.”
Dr. Adu Sarkodie
Giving his initial reaction on the presentation, he indicated that he was very satisfied with the new initiative government brought up, adding that they must ensure its implementation.
“With respect to the document, I am very much satisfied. What I will expect more will be the implementation. I am particularly happy about revenue assurance and compliance in this, which is supposed to clog all the loopholes, reduce leakages and improve efficiency in revenue collection. It is a major concern. I am glad it has been considered but I want to see the action.”
Dr. Adu Sarkodie
His comments come on the back of government saying it will stay within the estimated GH¢ 111.3 billion expenditure for the year 2021, and introduce no new taxes. The minister said this while acknowledging that the long stay of the third wave of the COVID-19 pandemic, could adversely affect the country’s economic recovery and transformation.
Tackle employment as promised
Dr. Sarkodie further revealed that he was happy about the employment measures the government tackled. Touching on the youth employment opportunity, he urged the government to truly help them as promised.
“In Ghana every 10% GDP growth rate generates only 6% for employment. So, the remaining 4% goes waste in terms of employment generation. So, it is good that the Minister has made it his focus to help them.”
Dr. Adu Sarkodie
Touching on COVID and its effects on the economy, he lauded the government for the efforts it is putting ito mitigate its spread.
Budget review was welcoming
Also speaking on the budget review, Dr. Worlanyo Mensah, lecturer at the Department of Economics and development studies at the Wisconsin University stated that the budget review was welcoming.
He was of the view that the budget review sort to analyze the impact of the budget and policies that has been outlined for the development of the country.
“It stressed on the developments of Ghana. I think it touches on more relevant points. People have a misconception that the mid-year budget is a full budget. It’s not an annual budget, we are reviewing policies and projects. Also
“Basically, I think it’s a welcoming ground. But I think there are few issues that we think we could have equally done better.”
Dr. Worlanyo
