Ofori-Atta Set To Present 2024 Budget, Minority Wary Of New Taxes To Raise An Extra GH¢11 Billion

• Finance Minister Ken Ofori-Atta will present the government's 2024 Budget Statement on the morning of November 15, 2023
• The presentation will outline strategies for revenue generation and policies to address the economic crisis
• The Minority has warned the government against introducing new taxes with this budget

Finance Minister Ken Ofori-Atta will present the 2024 Annual Budget Statement today, November 15.

This presentation aims to outline strategies for revenue generation and policies to address current economic challenges.

The Ministry described the budget as crucial because it is developed to support Post-Covid-19 Programme of Economic Growth.

The budget comes after the first review of the 3-year $3 billion IMF Programme.

The budget will also highlight the economy's performance and efforts to boost the economy's productive capacity through the new growth strategy, fiscal measures, and debt management strategies to deepen stability and promote growth.

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The government will undertake comprehensive stakeholder engagements to explain the policy to the public.

Minority warns against new taxes

The Minority in Parliament warned the government against introducing new taxes with this budget.

The Yapei-Kusawgu MP, John Jinapor, told Citi News that the government plans to raise an additional GH¢11 billion by imposing new taxes in the 2024 Budget.

He said the Ofori-Atta met the Finance Committee and indicated that he intends to raise the additional GH¢11 billion.

But Jinapor noted the Ghanaians had been too burdened with tax and called this move inappropriate.

He further suggested that the government should rather consider cost-cutting expenditure measures.

Ghana facing uphill task to meet IMF conditions

YEN.com.gh reported that Ghana missed the timeline set in the IMF programme to get the second tranche of the $3 billion bailout package.

Bright Simons of IMANI earlier disclosed that the government was struggling to convince the IMF to sign off on the $600 million.

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Source: YEN.com.gh