November 17, 2021

Today’s budget will not be any different – Interest groups.

Ahead of the 2022 budget statement today by the Minister of Finance, a cross-section of interest groups has suggested that the budget for today will be no different.

Several interest groups, including labor unions and industry associations, have expressed concern about the anticipated elimination of port clearing discounts on certain goods.

“There is so much riding on this budget as it is a post-election one, a period that has always been austere as far as Ghana’s fiscal framework is concerned”.

“From all indications, today’s budget will not be different”.

According to the unions, Ghanaians can expect an even stronger tightening of the belt because of the economic complications inflected by the Covid-19 pandemic.

The withdrawal of port clearing discounts on selected goods is one of the most contentious anticipated policy interventions that has dominated talks leading up to the budget.

All items now eligible for port clearance discounts will no longer be eligible.

The Chief Executive of the Chamber of Pharmacy, Thony Ameka has warned prices of medicines will increase if the government goes ahead to scrap the 50% discounts.

Secretary of the Spare Parts Dealers Association at Abosey Okai in Accra, Eric Anti, also warns of similar consequences.
There have also been concerns about a likely significant increase in road tolls.

GPRTU spokesperson, Abass Imoro says they will oppose it if the Finance Minister makes it official.

However, Something will undoubtedly give in the 2022 budget, given the ever-increasing budget deficit, post-covid economic gloom, and diminishing revenues.

Source:\ Emmanuel Owusu Anti.

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