The Institute of Fiscal Studies (IFS) has predicted that 2016 will be “one of the difficult years” because the government has an uninspiring budget and financial statement.
Speaking on the Morning Starr with host Nii Arday Clegg, the Executive Director of the economic think-tank said Ghanaians must “brace themselves for a difficult year.”
According to him, citizens must be judicious in using their resources because it is an election year and the fiscal dynamics will be different from previous years.
Prof. Kusi opined there was “nothing” positive about the 2016 budget.
The John Mahama-led administration has promised not to overspend in the election year, but the main opposition New Patriotic Party (NPP) has downplayed such promise, saying it is just a campaign stunt.
Prof. Kusi flayed the government over the whopping public debt hovering around Gh¢92 billion.
“I will say that the budget was very uninspirational because there were a lot of things that it was supposed to address but never addressed, and I am personally very worried about it.
“The government has not succeeded in improving the fortunes of the country despite the fact that in the last three years, they have very ambitious targets in their targets. The reality is that the macroeconomic indicators are unstable and on the rise,” the economist said.
Meanwhile, Finance minister Seth Terkper in his presentation of the budget last week, told parliament that government has made tangible gains in the management of the economy.
“In 2016, we will be seeking another mandate to lead the development process of our beloved country. We will stand proudly before our people with confidence in our choices and results achieved so far, and we will ask once again for their mandate and cooperation as we move forward to complete the job we started together. The Government will require support from this august House and cooperation of the good people of Ghana as we are resolute in our drive towards providing a better Ghana for us all. We believe that this budget provides yet another opportunity for all of us to work hand in hand to achieve the objectives we have set for ourselves,” he noted.
“I wish to emphasise that under the able leadership of President John Dramani Mahama, we have acted decisively to address significant economic challenges and implemented socio-economic programmes with the view to “Changing Lives and Transforming Ghana.” The interventions outlined in this Budget will no doubt contribute significantly to the realisation of our brighter medium term prospects,” Terkper said.
