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GHANA’S 2019 BUDGET SEEKS TO BETTER THE LIVES OF GHANAIANS

SUMMARY OF GHANA'S 2019 BUDGET

On the 15th of November, 2018, Hon. Ken Ofori-Atta delivered the proposed budget of Ghana for 2019 to Parliament. Amidst a lot of hardships and complaints of the average Ghanaian, the Government of Ghana under the leadership of His Excellency Nana Akuffo Addo seeks to make the lives of the citizens better, hence laid out the budget for 2019. The budget is dubbed ‘A Stronger Economy for Jobs and Prosperity’.

The expected total revenue and grant for the 2019 fiscal year is GHC 58.9 billion which is 17.1% of the Gross Domestic Product of the country. The projected expenditure also sums up to an estimate of GHC 73.4 billion which is 21.3% of the GDP with the paying out of all arrears included. The total budget deficit is GHC 14.5 billion or 4.2% Of the GDP. The budget is said to cover six major areas which are; Agriculture, Industry, Infrastructure, Entrepreneurial Support, Revenue Mobilization and Social Partnership.

The budget seeks to expand the policy of the ‘Planting for Food and Jobs’ to benefit over a million Farmers and to expand storage facilities of farms to 80,000 metric tonnes across the country.The infrastructural development of the country will also be fast tracked to make living in the country easier. Projects such as roads construction, proper healthcare facilities, water projects and housing facilities will be constructed with an estimated amount of $2 billion. The National Entrepreneurship which is an Innovation Support Program will train a new set of about 10,000 Entrepreneurs and give them financial support to about 2000 outstanding entrepreneurs. Over a billion cedis will be invested into industrialization. An additional amount of GHC 200 million would be given to the Microfinance and Small Loans Centre to help improve its capacity to support SME’s grow.

Hon. Ken OforiAtta said that the budget will better the past, give opportunities for the present and invest into the future. He also stated that they will not pay heed to opposition but will focus on doing what’s best for Ghana. He also pledged to avoid repetition of past mistakes, so far us his party is still in power.

Credit: ghanaweb.com

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