The NPP government will present its first budget statement to parliament between the end of February and the beginning of March, 2001.
This was disclosed by Hon. Yaw Osafo Maafo, Minister of Finance in an interview on JOY FM yesterday. Previous budget statements which have been released by the NDC government have almost always resulted in astronomical increases in prices.
These increases have been brought about by one single factor - increase in the price of fuel which happens to be the vehicle on which the Ghanaian economy is set in motion.
According to the Finance Minister, the budget would among other things, look critically at instances such as the use of 45% of the country's total revenue to service debts. In his words "this must be halted immediately.
" Primarily the budget would aim at stabilizing the cedi by reducing inflation and interest rates and also minimize deficits, he said. Mr. Osafo Maafo added that this may call for some stringent measures which may in turn be a bit harsh on the average Ghanaian.
