A former Deputy Finance Minister in the immediate past National Democratic Congress (NDC) administration Mona Helen Kabuki Quartey has described the recently budget statement presented to parliament as a budget of hope.
She is optimistic that the current budget has the rudiments achieving fiscal consolidation and subsequent growth contrary to condemnations by her other colleagues from the NDC.
‘Well I don’t think that the budget is deceptive, if its populist, I agree with that, in terms of deceptive no. I think that this budget thus seeks to press on, but am just saying it must be realistic. It’s a little hollow on the actual strategy in increasing revenue and expenditure control…the budget has a number of contradictions,’ she stated.
On Kumasi-based Ultimate FM she touted the decision by the current government to initiate the Zongo Development Fund (ZDF) and Infrastructure for Poverty Eradication
‘We may see a midyear review that may backtrack on some of the things the minister mentioned especially in the area of revenue. Clearly they are building on some of the things former President Mahama’s government begun. I think that in trying to fulfil promises or meet expectations, they threw in some of initiatives that are not useful.
And may rather create a backlash on some of the tax cuts or abolishing certain taxes… In the short time they will find out that they will need that revenue, but how do you go back? I would say managing expectation is very important for us to be able to achieve our medium term strategy.
There is nothing new in the budget expect that throwing up promises to make people feel good, it is a feel good budget.
There weren’t much new initiatives, especially in the area of expenditure control,’ she said.
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