The Minister of Finance, Ken Ofori-Atta, is scheduled to present the government’s 2024 Annual Budget Statement and Economic Policy to Parliament.
Leading up to this crucial presentation, there have been calls for the government to implement substantial cuts to its expenditures as a response to the challenges confronting the ailing economy.
The Chief Executive Officer (CEO) of Dalex Finance and Leasing Company Limited, Kenneth Thompson, has recently issued a warning about the potential for an economic downturn in 2024 if the government persists in its current trajectory of escalating and substantial expenditures.
Speaking to the media, Mr Thompson stressed the urgency of protecting the vulnerable segments of society.
He urged a strategic focus on essential sectors, including health, education, infrastructure, food, and other critical areas, as a prudent approach to addressing the economic challenges facing the country.
Meanwhile, in response to recent events, the Finance Minister has announced that the formulation of the 2024 budget will take into consideration long-term relief measures for the victims of the Akosombo Dam spillage.
Mr Ofori-Atta, who was addressing journalists after visiting the affected communities, acknowledged that while the government had already provided some relief items to the victims, there was a firm commitment to doing more.
This commitment to aiding those affected by the spillage is expected to be clearly outlined in the upcoming budget, with a specific emphasis on social interventions designed to meet the genuine needs of the affected communities.