Minister of Finance Ken Ofori-Atta has described former President John Dramani Mahama handling of Ghana’s economy as ‘’Living for today and leaving tomorrow to take care of itself.’’
He made these comments in his preamble during the presentation of the 2020 budget.
‘’When we first took over the running of the affairs of the country, the economy was suffocating under debts, the banking sector was comatose. Yet the government was borrowing and living for today and leaving tomorrow to take care of itself’’ he stated.
He also stated that the Akufo-Addo led administration has made been able to put Ghana’s economy back on track because of prudent economic management over the three (3) years period since assuming office.
Although annual budgetary projections are based on estimates on major economic indices, it is usually the product of informed analysis and cautious optimism.
This is all the imperative in a primary product economy as Ghana where raw materials and resource exports accounts for more than 90 per cent of foreign exchange earnings.
The reading of the budget to Parliament is in accordance with the Public Financial Management Act, 921, 2016 and with regulation 152 (2) of the Financial Administration Regulations.
By: Bridget Mensah
