2008 Budget to be read next week

Accra, Nov. 9, GNA - Mr. Kwadwo Baah-Wiredu, the Minister of Finance and Economic Planning is scheduled to present the 2008 Budget Statement and economic policy of government next Thursday, November 15, 2007. Mr. Abraham Ossei-Aidooh, Majority Leader made the point when he presented next week's business statement to Parliament on Friday. This is the third time in succession that the budget statement has been presented in the preceding year as prescribed by the 1992 constitution.

Mr. Aidooh indicated that the leadership of the House would undergo a workshop on the budget together with selected staff of the Parliamentary Service on Friday 23, 2007.

He said the House would also hear a half hour motion on the Tamale Water Project on Friday November 16, 2007. He said a total of 33 questions would be answered next week while the Committee of the Whole has been scheduled for November 14, 2007. In an interview with the Ghana News Agency, Mr Baah-Wiredu said the 2008 Budget Statement would aim at consolidating the gains made since 2001.

Mr. Baah-Wiredu said efforts would be made to ensure that adequate funds are made available for agriculture, infrastructure development, ICT, roads and railways.

He said the budget is in eight parts and would examine various areas good governance, human resource development and private sector development. "It would examine sectoral, global and national items. "We hope to be able to capture financing concerns from the international, national, regional to town, village household and individual levels."

Mr Baah-Wiredu expressed concern about the rising oil prices, currently fixed at 97 dollars, saying it was putting serious pressure on government finances since it means that for every 100 dollars derived from cocoa or gold sale, 98 dollars goes into financing oil imports.