Lawuratu Musah-Saaka, Deputy Executive Secretary of the Postal and Courier Services Regulatory Commission (PCSRC), admitted has that, the 2023 budget with no doubts, came with very strict measures which the government is expected to take in order to improve upon the dire state of the country’s economy.

She stated that in current times where the economy is failing, there have been several calls from citizens and the opposition telling the government to make bold decisions and take bold steps in order for the country to come out of the hardship. She explained that the aim of the budget was to communicate to the people how the government was going to deal with the debt sustainability, adding that measures have been put in place to carry out this process.

“As we sit, the Ministry of Finance has released a statement, when all the misinformation and the misinterpretation were being put out there that they’re still in discussion with the players within the sector. Anything that is coming up is still a proposal, the government is going to come out with the debt recovery program that will incorporate all of these.”
Lawuratu Musah-Saaka

According to Lawuratu, the government has been strongly accused of not consulting other sources enough before making decision. She noted that, consultations really need to be done before anything concrete is brought to the people. She iterated that nothing emphatic has been put out there and discussions are on going concerning the debt recovery program.

She explained that the debt restructuring program is expected to come with specifics once the consultations were done. She urged the Ghanaian society to stop putting so much information out there and wait on the government to present the final outcome before discussions are made.

When we do that, by the time the real facts come out, its difficult to even differentiate between what is real and what is not and this causes panic and all that, she said.

2023 Budget Not Suitable For IMF Negotiations

In the same panel discussion, Lawyer Beatrice Annan stated that the government cannot go to the IMF with the budget that was read, saying that the government was incompetent to negotiate with the IMF. She stated that something was not right about the budget reading and that things were not adding up.

Lawyer Annan mentioned that the overall effect of the 2023 budget that was read was that 2023 was going to be a tough year. She stated that even the funds of pensioners were going to be affected by the budget. She iterated that the older citizens who rely on their pension funds and SSNIT contributions were also going to be affected.

“If you are young person who was hoping and you’re drawing your resolution that by the year 2023, I want to have a job, the government is saying that ‘I have no space for you.’ If you were somebody who was into trading, the government is saying that I’ve increased your taxes.”
Lawyer Beatrice Annan

Beatrice Annan 1 — Lawyer Beatrice Annan

The YouStart initiative is an initiative that was introduced by the government as a means of providing jobs and some entrepreneurial skills to the people of Ghana. She disclosed that the government introduced the YouStart initiative in the year 2020, however it did not do anything about it. She said that the government brought the initiative the following year, and again, did nothing about it. Lawyer Annan mentioned that the initiative was mentioned again this year and nothing has been done about it, however it has been featured again in the 2023 budget, she said.