Live updates: Finance Minister presents 2020 budget

Live updates: Finance Minister presents 2020 budget
Source: Ghana |
Date: 13-11-2019 Time: 09:11:36:am

Finance Minister, Ken Ofori-Atta, is scheduled to present the Akufo-Addo government’s fourth Budget and Economic Policy in Parliament.

Wednesday’s presentation, according to the Finance Ministry, will focus on providing liquidity to boost industrialisation in the country.

“The type of liquidity that is required to support industrialisation will be a key element in the 2020 budget,” the Finance Minister told journalists at an event in September this year.

Among other policies, Mr Ofori Atta also revealed that the 2020 budget would review the country’s tax exemption policy.

“We lose a lot of resources in exemptions and it’s time to straighten it out and make exemptions count. There are too many institutions and people who are benefiting but do not need to,” he said.

On measures to boost domestic revenue mobilisation, he said, “we changed all the commissioners and that is expected to yield some serious results.”

Mr Ofori-Atta told Joy News, government flagship programmes including the Free Senior High School (SHS) programme and Planting for Food and Jobs will receive dedicated funding. 

“We have to make sure the roads are done, make sure the flagship projects are going on and begin to think structurally about tax reform,” he said.

He added that the Akufo-Addo government is poised on its export drive and doing “things that now begin to place us in a position, on a real growth strategy that will also bring the needed employment.”

Join us as we bring you live updates of the Minister’s presentation to legislators today.