A lecturer at the University of Ghana Business School has predicted doom for the economy, saying the 2016 budget presented by Finance Minister Seth Terpker will only make the economy stiffer than before.
Laud Mensah says among others, the 2016 budget failed to explain how monies allocated to unfinished projects are used and why some have remained unfinished all these years.
“Ongoing projects in this country have been halted for a very long time because anytime budget is read, monies which are supposed to aid the completion of these projects rather end up concentrating on something else.
“We are expecting realistic figures in order for our economy to grow, else we will suffer” he noted.
The 2016 Budget is themed: “Consolidating Progress towards a Brighter Medium Term” and was delivered on the floor of parliament by minister Terkper on Friday, November, 13 2015.
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Ghana’s total debt stock, according to Mr Terkper, currently stands at GH¢92.2 billion from GH¢9.5 billion in January 2009 when the NDC took over power.
Speaking on Adom FM’s Morning Show ‘Dwaso Nsem’ Monday, Laud Mensah, who described the economy as ‘tight’, advised government to live within its means and not engage in unnecessary spending.
On his part, Member of Parliament for New Juaben North, Mark Assibey Yeboah who described the budget as very ‘hopeless’ said the NDC government has ended up betraying the trust of Ghanaians.
Mr. Assibey Yeboah, who is also an economist said the budget, described by the Minority in Parliament as a ‘dead goat’, will take the country nowhere, especially in the face of massive unemployment.
“Nothing shows that the economy will grow. The budget doesn’t offer hope at all. In fact, I’m not impressed” he stated.
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