Need For Ghanaians To Support The 2021 Budget

NEWS COMMENTARY ON 2021 BUDGET STATEMENT AND ECONOMIC POLICY

The 2021 budget focused on the need to complete all previously initiated projects, consolidate the economy and continue with new programmes for the benefit of the people. The previous practice where some of the uncompleted projects were delayed for various reasons is unacceptable and must be abandoned for the progress of the country. This is good and ought to be realized because abandoned or neglected projects constitute a drain on the resources of the country. Development programmes must be well thought through before their implementation. Their implementation must also be well planned so that they will not constitute a waste of resources in the country. If this is done at all times, the entire country will benefit from a sound and maximum use of its limited resources for Ghanaians. This must therefore guide all governments, present and future for the rapid socio-economic development of the country. It is clear that government needs more revenue to be able to finance its development programmes. This means that more revenue will have to be raised for this purpose. Without this not much can be achieved.

For this reason, the country needs to find innovative ways of ensuring that adequate revenue is raised for the development of the country. At the same time, there should be an improvement in the sanitation situation in the country. If this is done, it will minimize the number of diseases that affect people. When this happens, cost of medical care will reduce to the advantage of citizens in the country. It is also important to pay attention to all sectors of the economy to ensure that there is balanced growth for the country and its citizens. Indeed, the country needs to ensure balancing of fiscal consolidation for economic growth. All these go to emphasize the need to find ways of providing adequate resources for security, Agenda 111 which seeks to build district hospitals for many of the districts as well as regional hospitals and all ongoing development programmes, for economic growth.

This is quite ambitious on the part of government for which reason all agencies and officers of state must pledge and commit themselves to this noble dream of consolidating the gains of the economy. The transportation sector deserves further development because a good transportation system, facilitates and promotes rapid socio-economic developments. Many of our roads have not been in good shape for sometime now and that has been the complaints of majority of the people in the country. The year of roads declared in 2020, was very good because it helped to construct a number of roads across the length and breadth of the country. In spite of this, there is more distance to cover and this explains why the same programme is going to be continued in 2021 according to the 2021 budget. It means that some more resources will be needed for the construction of more roads. This explains why the increase in road tolls is a step in the right direction and must be embraced by individuals and groups of people in the country. If more revenue is generated, much can be achieved. So, more developments imply more revenue. We need to rebuild the Ghanaian economy for national development.

In order to make this dream a reality, the revenue base must be well designed and efficiently implemented to minimize any waste. Property rates for example are not paid by many people and this is not good in terms of revenue mobilization for national development.

In view of this, Metropolitan, Municipal and District Assemblies are expected to work hard along this line so that as much revenue as possible can be realized for development. The objectives of the budget are good but their realization will depend on the effective implementation of programmes and projects outlined in the budget. Again, structural reforms are necessary and must be in line with government development programmes and agenda. This is attainable if programmes under the budget are effectively and efficiently implemented. Indeed, real economy is expected to grow by 5% this year. This is not beyond reach.

The performance of the economy, began well in 2017 but this has been slowed down by the COVID-19 pandemic. The year 2020 was made difficult for Ghana and the rest of the world because of the pandemic. The revenue of government dropped by 13.6 billion Ghana Cedis. The result of this was very unpleasant because it slowed down the level of progress that could have been attained. Economic performance over the past four years shows that most of the macro-economic indicators have been realized but we still need to do more to ensure that the country moves at a faster rate than has been achieved previously.

The challenge facing the country today, includes the need to increase spending for social services for all groups of people, among others, and also presenting a consolidated picture of funding allocations on key services. If these are done, it will help rapid socio-economic development and there by lead to the realization of the Ghana Beyond Aid strategy in line with the vision of the President of the Republic.

By Dr. Kofi Amponsah Bediako, Director Of Corporate Communications, Ghana Standards Authority