General News Thu, 15 Nov 2018

Highlights of 2019 Budget

The total revenue and grants expected for the 2019 fiscal year is GHC58.9 billion; representing 17.1 percent of the rebased Gross Domestic Product (GDP).

The projected expenditure for that year, including the clearance of arrears, would, however, would amount to GH¢73.4 billion being 21.3 per cent of GDP.

Mr. Ken Ofori Atta, Minister for Finance, presenting the 2019 Budget Statement to Parliament, on Thursday, said this would lead an overall budget deficit of GH¢14.5 billion or 4.2 per cent of GDP.

Within the period, he said the Government would make interventions and investments across economy in its bid to build a stronger economy for jobs and prosperity.

These would mainly cover six priority areas namely: Agriculture; Industry; Infrastructure; Entrepreneurial Support; Revenue Mobilisation and Protecting the Public Purse; as well as Social Partnership.

In the Agricultural sector, it would expand the Planting for Food and Jobs to programme to cover a million farmers and increase storehouse capacity by 80,000 metric tonnes, among others.

Under infrastructure, several projects are expected to be undertaken including roads, housing, health and water projects, with a $2 billion facility as well as other sources of funding.

More than one billion cedis will be invested in industry while under the National Entrepreneurship an Innovation Support Programme, another set of 10,000 entrepreneurs would be trained and financial support provided to about 2000 of entrepreneurs.

A total of GH¢200 million would also be allocated to the Microfinance and Small Loans Centre (MASLOC) to strengthen its capacity under better management practices.

Mr Ofori- Atta declared:” The 2019 Budget deals with the past; delivers opportunity in the present, while investing responsibly into the future.

“We will not heed the voices encouraging us to eat the seeds that need to be harvested for the future.

“We shall not be discouraged by the voices that seek to play down the gains that we constantly continue to make.

“We pledge not to repeat the mistakes of the past; so long as the majority of Ghanaians continue to keep faith with our leadership”.

The Budget is on the theme: “A Stronger Economy for Jobs and Prosperity”.


Source: ghananewsagency.org
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