2024 Budget means nothing when 'Koko' is GH¢3 and Kenkey is GH¢5 – Martin Kpebu laments

Private legal practitioner, Martin Kpebu has stated that government’s 2024 budget means little to nothing to the average Ghanaian as it fails to address their basic concerns.

Speaking on TV3’s Key Points programme on Saturday, November 18, 2023, Mr Kpebu averred that the budget rather than addressing the current economic pressure on the average citizen has been tailored to benefit party elements.

“If you couldn’t take off taxes from the fuel so that it will bring down the prices so that times will improve, then for them all this is basically not relevant for them.

"Of course, these are contracts that they will give to a few party faithful, a few party faithful because I have met a number of NPP supporters who are crying because they were never given contracts as promised.

“So the budget, yes, they said they are projected to spend GH¢227 billion but the ordinary man is saying how much is in it for me? It is going to big party people who will come and take sole-sourced contracts etc right?

"So to that extent, that budget doesn’t mean much to us. As long as we buy koko for three cedis, kenkey for five cedis, fish for ten cedis et cetera, yam, rice and all those things, it doesn’t mean much,” he stated.

He added that the government ought to have among other things considered the taxes imposed on petroleum products as such taxes that goes to add to the price build-up on goods and services.

“You didn’t take off taxes from petroleum products and you know in the price build up over 40% is due to taxes. So if in your budget you couldn’t take off any taxes that will make sure that the price of petrol will come down, and you know when fuel comes down it affects a lot of sectors of the economy; transport, food, etc, health, everywhere,” he noted.

The Minister for Finance, Ken Ofori-Atta on Wednesday, November 15, 2023, presented before parliament the government’s budget statement and economic policy for the year 2024.

The budget dubbed “Nkunim” (victory) budget, outlined the government’s interventions for social protection, job creation, and tax reduction measures. Ofori-Atta in his presentation highlighted positive economic indicators, indicating that the economy was on track with a smaller deficit than targeted in the first eight months of 2023.

However, the Finance Minister’s budget statement has faced criticism from various quarters, including the largest opposition party, the NDC, civil society organizations, and other stakeholders. They contend that the budget fell short of expectations and failed to address key factors crucial for the country’s economic growth and recovery.

GA/SARA

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