4 other things we learned from the ‘Agyenkwa’ budget

Finance Minister Ken Ofori-Atta presents the 2022 national budget on Wednesday 17 November

It is the first day after the presentation of the government’s 2022 budget and economic policy statement to the people of Ghana through their representatives – the Parliament.

As expected, the analysis has started in earnest. The reactions too.

While motorists hail the government for the convenience of driving on toll roads so far without traffic, parts dealers and business owners complain about the removal of the benchmark on some imported products and electronic tax respectively.

For the general public, there is more to learn from ‘Agyenkwa’ budget. Here they are:

“YouStart” initiative to meet the challenge of unemployment

If you are unemployed, all is not lost. The savior is there. The ‘agyenkwa’ budget has planned an initiative that will sort you out. It’s called “YouStart”.

The bearer of the bad news – the government payroll is full, that angered you, now has good news, “understanding the challenge of youth employment, as well as extensive consultations with stakeholders, including youth associations and 24 educational institutions across the country, have led to the development of the ‘YouStart’ initiative which proposes to use GH ¢ 1 billion each year to catalyze an ecosystem to create 1 million ‘jobs and, in partnership with financial institutions and development partners, to raise an additional 2 billion cedis, ”he said.

In addition to this, the local banks have agreed on a package that will result in increasing their SME portfolio to GH 5 billion over the next 3 years. This, Mr. President, translates into an unprecedented historic commitment of GH10 billion ₵ to the private sector and “YouStart” over the next 3 years, ”he added.

So all the unemployed, go ahead, start a business, celebrate, for ‘agyenkwa no aba’ – the savior is here.

Reference values ​​on selected imported goods deleted

The NPP government presents itself as a government that listens. So if he refuses to heed the warning from key stakeholders not to remove the benchmark on selected imported products, then the rationale for this decision is critical.

“After two and a half years of operation, the temporary reference (discount) policy on imports introduced as a palliative measure has been revised to make it more effective and better targeted.

This is in line with government policy to promote local industry and improve foreign exchange earnings. We have embarked on a program to transform our enterprising traders into manufacturers of gadgets, tools and other machinery needed as inputs for our industrial growth, ”said Ken Ofori-Atta.

This despite the fact that before the budget was read, several associations, including the Ghana Union of Traders Association (GUTA) and the Ghana National Chamber of Pharmacy (GNCoP) warned against price increases if such a decision were to be made. socket.

Government to recruit 251 people for Special Prosecutor’s Office

For those of you who have engaged in corrupt practices, now is the time to stop. Otherwise the special prosecutor, Mr. Kissi Agyebeng will come after you as ‘kakai’ – scarecrow.

The Office of the Special Prosecutor (OSP) has been given the green light to recruit 251 employees across the country and they will keep an eagle eye on you.

“In 2022, the OSP will focus on: completing the redevelopment of the new office; recruitment of 251 agents; staff training and resourcing; investigation and prosecution of cases; asset recovery and management; and prevention of corruption through public education and stakeholder engagement, ”said the Minister of Finance.

“As a result, a total of 170,504,000 GHC will be allocated to the Bureau to begin its mandate in 2022,” he added.

Government to fight climate change by implementing Ghana’s REDD + strategy

The effects of climate change on Ghana’s economy are becoming visible even to non-environmentalists. The unprecedented destruction caused by a storm surge in Keta and its surroundings bears witness to this recently.

According to Mr. Ken Ofori-Atta, the government has a strategy to fight against this phenomenon. This is Ghana’s REDD + strategy. It includes five ecological programs adapted to the landscape.

“We will work with the Global Adaptation Center, working closely with the African Development Bank, to find pioneering solutions on how to build sustainable infrastructure and help African cities to guard against the impacts of climate change.

We will further work with our traditional authorities and our districts to issue innovative ‘mini munies adaptation bonds’ to address the issues of rehabilitation and reforestation in their localities, ”he added.

There you have them. 4 other things to learn from the budget.

The year 2022 promises to be a well planned and budgeted year.

Will things work as expected, we can only cross our fingers and wait for things to unfold.


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