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December 11, 2019
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2020 Budget ‘ll Sustain Growth, Create Jobs– Bantama MP

A member of the Finance Committee of parliament, Hon. Daniel Okyem Aboagye, has said the 2020 Budget would focus on sustaining gains made over the past three years.

He added that this should mean the 2020 Budget would also look at creating jobs opportunity and economic stability.

Mr.Okyem Aboagye who is the Member of Parliament for Bantama was making a preliminary comment on the Budget ahead debate on the floor of parliament.

He told THE REPUBLIC that, the budget presented by the Finance Minister to parliament would tackle critical sectors of the economy of the country.

According to him, the budget would focus on the uncompleted roads and ongoing flagship projects as well improve the country’s export drive.

The Bantama lawmaker however debunked the Minority assessing that, the Budget lacks substance and is only political propaganda.

Ken Ofori told parliament the 2020 budget would improve Ghana’s export drive, tax reforms, reviewing tax exemptions, and things that would put the country on a growth strategy and create the required jobs in the country.

In the 2020 budget, government projects to spend GH¢9.3 billion, equivalent to 2.3 per cent of GDP on selected infrastructure projects across the country next year.

The projected amount is 53.5 per cent higher than the 2019 projected outturn, which was GH¢7.7 billion.

The domestic financed capital expenditure is estimated at GH¢3.8 billion (0.9 per cent of GDP).

The remaining GH¢5.5 billion is expected to be financed from foreign resources, comprising a combination of project grants and loans.

The 2020 budget is on the theme: “Consolidating the gains for growth, jobs and prosperity for all.”

Ken Ofori Atta

The 2020 budget is the government’s fourth and the country’s second revenue and expenditure estimation instrument after the exit of the extended credit facility of the International Monetary Fund (IMF).

To accelerate the delivery of basic infrastructure needs of each constituency, which Mobagyeib said a number of varying infrastructure projects such as culverts, small bridges, community centres, police posts, classroom blocks, markets, among others would commence in 2020.

These basic infrastructural facilities will help to improve the lives of the rural and peri-urban population.

This, Hon Aboagye said indicated that the government is focus and would deliver to the best interest of Ghanaians.

MP in chambers of parliament

He said the government had since 2017 adopted the dual strategy of rehabilitating sections of the old narrow gauge line as well as constructing a new modern standard gauge line.

The road project works so far cover the Accra-Tema suburban line, which has been operating since January 2019 and the Kojokrom-Tarkwa as well as the Achimota- Nsawam lines. In 2020, work will also commence on the Nsawam-Koforidua line,” he said.

He indicated that the government would continue to support the rehabilitation of sections of the narrow gauge.

Mr A Aboqgye said all over the world, infrastructure development had been the bedrock for economic development and an avenue for wealth creation.

Over the last three years, he said, the government had focused on road and rail sector development, the development of fish landing sites, expansion of water and sanitation systems and the delivery of the Infrastructure for Poverty Eradication Programme (IPEP) which sought to promote inclusive development of all parts of the country.

The Bantama lawmaker said the government had also been able to mobilise funds for over 150 roads nationwide.

“Ghanaians want action on our roads, not words or plans or Green Book claims about what has been done. We intend to swing into action and let our work do the talking for us.

He added that, with this large number of roads to be constructed, the government have the reason to described the year 2020 aptly as the Year of Roads along with a focus on all our flagship.

 

Source: therepublicnewsonline.com/Felix Nyaaba

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