Finance Minister Ken Ofori-Atta is set to present the government’s 2024 Annual Budget Statement and Economic Policy to Parliament today, November 15, in fulfillment of the constitutional mandate on behalf of President Nana Addo Dankwa Akufo-Addo.
Although there were initial uncertainties about the budget presentation due to the lack of official communication from the Finance Ministry, a statement on Tuesday, November 14, confirmed and assured the scheduled presentation.
As various groups, including the Ghana Union of Traders’ Association (GUTA) and the Food and Beverages Association of Ghana (FABAG), called for significant tax cuts to alleviate the economic burden on citizens, expectations and concerns surround the budget’s fiscal measures.
The Concerned Drivers Association of Ghana advocated for the reintroduction of road tolls to address road infrastructure challenges.
In response to the fiscal proposals, some Members of Parliament urged the government to prioritize expenditure cuts over additional taxes, emphasizing the need to share in the economic challenges faced by the Ghanaian population.
Financial analysts had previously recommended that the government focus on revenue generation while concurrently reducing expenditure.
