Ken Ofori-Atta is a former Minister of Finance known for his catchy local names for every budget
The Minister of Finance, Dr Cassiel Ato Forson, will lay before Parliament the 2025 Budget Statement and Economic Policy for the 2025 financial year on the authority of President John Dramani Mahama.
The budget presentation aligns with Article 179 of the 1992 Constitution and Section 21(3) of the Public Financial Management Act 2016 (Act 921).
As the first budget reading of the current government, the presentation will serve as an opportunity for the government to update both Parliament and citizens on its economic progress, as well as outline any necessary adjustments to budgetary allocations and policies.
In previous years, former Minister of Finance, Ken Ofori-Atta, introduced several catchy local names for budget readings, with each name hinting at the specific focus of the budget.
Ahead of Tuesday, March 11’s ‘Asempa’ budget reading, here are some of the local catchy names of previous budgets.
Asempa (Good News) Budget – 2017
Presenting the budget in 2017, Ken Ofori-Atta said the Asempa Budget was aimed at bringing the economy to the path of sustainable growth and development.
In that budget, the minister spelt out the government’s major economic policies. Key among them included the;
a) Establishment of the infrastructure for poverty eradication – each constituency to receive the cedi equivalent of a million dollars to combat poverty
(b) Implementation of the One District One Factory – initiating industrialisation as promised during the 2016 election campaigns
(c) Establishment of the Zongo Development Fund to support the development of Zongo communities.
Adwuma (Jobs) Budget – 2018
Ken Ofori-Atta presented this budget to Parliament in 2018 for the 2019 fiscal year.
According to the former minister, it was aimed at building on the 2017 “Asempa” Budget achievements and putting the country back to work; to grow the economy, create jobs, and improve the lives of Ghanaians.
The minister stated that the budget statement for the following year, 2019, would create about 100,000 jobs for all unemployed graduates, who would be given specialised training for recruitment into special programs, such as Teach Ghana, Clean Ghana, Heal Ghana, Feed Ghana, and Revenue Ghana.
Mpuntuo (Development/Progress) Budget – 2019
In 2019, the finance minister presented the Mpuntuo Budget to Parliament.
The nickname of the budget, which translates as development, was aimed at bringing infrastructural development to the country.
The government devoted about $2 billion of the budget to infrastructural development to free the economy and bring hope and prosperity to Ghanaians.
The four-hour-long presentation on the floor of the House touched on various sectors of the economy, as well as plans for the full realisation of the government's flagship programs.
Anidasuo (Hope) Budget – 2020
As the country grappled with the effects of the COVID-19 pandemic, the finance minister presented the Anidasuo Budget as a way to present hope to the Ghanaian economy.
The budget introduced some intense tax revenue and expenditure measures, which, among others, included the removal of selected VAT exemptions, the complete removal of discounts on benchmark values for specific items, and E-Levy reforms to close loopholes/leakages.
Nkosuo (Growth) & Nkabom (Togetherness) Budget – 2021
Presented in 2021, this budget was based on a seven-point agenda to restore macroeconomic stability and accelerate economic transformation.
The budget's theme was ‘Restoring and sustaining Macroeconomic Stability and Resilience Through Inclusive Growth and Value Creation.’
This budget review, as presented by the sector minister, focused on measures to improve revenue and tax administration for economic recovery.
They were inclusive growth, value creation, restoring macroeconomic stability, sustaining resilience, and real GDP growth.
Agyenkwa (Redeemer or Savior) Budget – 2022
The 2022 “Agyenkwa” Budget was presented to Parliament by Ken Ofori-Atta.
The budget was presented on November 17, 2021. It was mainly focused on fiscal consolidation and job creation to help build a sustainable entrepreneurial nation.
Nkunim (Victory) Budget – 2023
On November 15, 2023, the finance minister presented the budget statement to Parliament, as mandated by the constitution. In this year, the budget was nicknamed Nkunim to wit, Victory.
The budget was described by the Speaker of Parliament, Alban Bagbin, as critical, given it being the first after Ghana signed on to the $3 billion credit facility with the International Monetary Fund (IMF), for economic recovery after being saddled with high debt issues.
While presenting the budget statement in parliament, Ken Ofori-Atta said “And I am confident the Nkunim will ensure that we boldly walk in a sustainable path towards creating decent jobs and wealth for our people,. For with national dedication, the Lord will continue to give us treasures of dark places and hidden riches in secret places.”
MAG/AE
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