The Ministry of Finance (MoF) says President Akufo-Addo’s administration is determined not to leave a difficult situation for the next government in January 2025.
Speaking on Morning Starr with Francis Abban, the Technical Adviser at the Ministry of Finance, Dr. Abudu Abdulganiyu stated that in order not to leave a situation the government within the 2024 budget.
“We have decided that we should not leave a very difficult situation for the next government, so that is where expenditure has to be within our limit of the 2024 budget.
“So that whichever government takes over in January 2025 that government will not have to suffer, it is simple. We met a huge budget deficit in 2017 and are determined to ensure that by the end of this year, we are leaving a surplus. We are not going to run into a deficit but rather we should record a primary balance of about 0.5 percent positive,” Dr. Abdul-Ganiyu disclosed.
According to him, the government will not ask for more money in the mid-year budget expected to be read in July 2024.
“In 2023 we recorded a balance of about 3.9 percent and that was against a target of about 5.7 percent. It does tell you that when we are talking about reducing we are capable of doing so because what we projected for 2023 we recorded a lower primary balance by the end of 2023.
“As I speak to you we are on course to achieve the 0.5 percent surplus based on our review of the mid-year figures. In July, the Finance Minister will be going to parliament to do the mid-year budget review and one of the things we have indicated is that we are not going to ask for a supplementary budget,” Dr. Abdul-Ganiyu disclosed.
Source: Ghana/Starrfm.com.gh/103.5FM
