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Ken Ofori-Atta storms parliament for budget voting

Ken Ofori Atta   Budget Presentation Finance Minister, Ken Ofori-Atta

Fri, 26 Nov 2021 Source: www.ghanaweb.com

Ken Ofori-Atta has stormed parliament for the concluding debate of the 2022 budget statement presented before parliament.

Ken Ofori-Atta is expected to address the house after the two leaders conclude their presentations.

Voting will commence after his address in parliament, today November 26, 2021.

Members of Parliament are expected to vote for or against the 2022 budget statement which has been termed as the Agyenkwa Budget by the finance minister.

The Minority has hinted they will vote against the budget while the Majority believes this budget will solve the current hardship in the country by creating more jobs.

Background

The Minister of Finance and Economic Planning, Ken Ofori-Atta characteristically arrayed in his trademark white Kaftan on Wednesday, November 17, 2021, presented the 2022 Budget Statement and Government’s Economic Policy in Parliament.

He also submitted to the august House the 2021 Annual Report on the Petroleum Funds, in accordance with Section 48 of the Petroleum Revenue

Management Act, 2011 (Act 815), (as amended) and the 2021 Report on the Utilization of the African Union Levies in accordance with Section 7 of

the African Union Import Levies Act, 2017 (Act 952).

Regarding Resource Allocation for 2022, the Finance Minister said Total Expenditure (including clearance of Arrears) is projected at GH¢137.5 billion, equivalent to 27.4 per cent of GDP and the 2022 estimate represents a growth of 23.2 per cent above the projected outturn of GH¢111.6 billion, equivalent to 25.3 per cent of GDP for 2021.

The Budget Statement which is focused on solving the rising unemployment rate in the country is in accordance with Article 179 of the 1992 Constitution and Section 21 of the Public Financial Management Act, 2016 (Act 921) on the authority of H.E. President Akufo-Addo.

Article 179 of the 1992 Constitution of Ghana requires that at least one month before the end of the financial year, the President causes to be prepared

and presented to Parliament a budget for the following year.

The Minister indicated that the Budget will be the propelling tool to catapult the country into a prosperous future by creating a careful realignment

and rebalancing of the country’s needs, wants, and aspirations as a nation to ensure sustained recovery and transformation to a Ghana Beyond Aid.

Source: www.ghanaweb.com
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