Bawumia Flaks Gov’t Over 2015 Budget

DR MAHAMUDU BAWUMIAThe running-mate to Nana Akufo-Addo, Dr. Mahamudu Bawumia, says the 2015 Budget does not address the basic concerns of the ordinary Ghanaian.

According to him, the budget would not grow the economy, create jobs, reduce the cost of doing business and help transform the economy.

Dr. Bawumia who made the comments during an interaction with the United Kingdom Branch of the Young Executive Forum, noted that, the budget failed to answer some critical questions that could bring relief to the suffering Ghanaian.

Dr. Bawumia explained that, at the end of the day, if the fundamental problems with the economy were not dealt with, then there remains a threat to macroeconomic stability improving.

He was therefore concerned about the decisions of government which were not targeted at addressing the main issues that have caused the economic challenges the country finds itself now.

He further also queried the government on the status of the International Monetary Fund (IMF) bailout, and what would happen to the budget should government fail to reach an agreement with the Fund.

“Turning to government’s budget statement, we see no elements of an underlying agreement on an IMF supported framework. Are we likely to see a revised budget statement if a final deal is concluded in 2015?  Where is the financing coming from, to fill the budget gap?”

He added: “Are donors likely to disburse without an IMF agreement and in the midst of corruption, especially in payroll administration? Is the government planning on using parastatals like GNPC (which has recently entered into an agreement to borrow $700 million without parliamentary approval in violation of the Constitution and the Petroleum Revenue Management Act) to fill the gap?.

“What will the government do if there is no IMF agreement? The questions are tall and this budget is therefore clouded with so much uncertainty going forward,” he stated.

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