2019 Budget will alleviate poverty, accelerate growth & increase wealth – Mac Manu

General News of Saturday, 17 November 2018

Source: rainbowradioonline.com

2018-11-17

Peter Mac Manu, Director of Elections for NPP

Director of Elections for the ruling New Patriotic Party (NPP), Peter Mac Manu has described the ‘Mputuo’ as incredible.

Speaking to Rainbow Radio’s Afia Kwarteng after the budget statement, Mr Manu who was the campaign manager for President Akufo-Addo in 2016 said, the budget is full hope.

The budget he stated outlined the massive infrastructural development projects to be undertaken by government.

According to him, the budget was anchored on the vision of transforming the Ghanaian economy, creating prosperity and job opportunities for all.

The budget he added also gave a clear picture on how government intends to move Ghana Beyond Aid.

The Nana Addo led administration he said is on course and its strong economic policies have yielded positive results and based on this, government will consolidate and build on these significant progresses to create better opportunities for citizens.

He said, “the budget was filled with hope. Government has cut down on expenditure, resources have been allocated to tackle sanitation; massive infrastructure is also part of the budget and so I can confidently state that government’s budget is a good one.’’

The total revenue and grants expected for the 2019 fiscal year is GHC58.9 billion; representing 17.1 percent of the rebased Gross Domestic Product (GDP).

The projected expenditure for that year, including the clearance of arrears, would, however, would amount to GH¢73.4 billion being 21.3 per cent of GDP.

This would lead an overall budget deficit of GH¢14.5 billion or 4.2 per cent of GDP.

Government would make interventions and investments across economy in its bid to build a stronger economy for jobs and prosperity.

These would mainly cover six priority areas namely: Agriculture; Industry; Infrastructure; Entrepreneurial Support; Revenue Mobilisation and Protecting the Public Purse; as well as Social Partnership.

In the Agricultural sector, it would expand the Planting for Food and Jobs to programme to cover a million farmers and increase storehouse capacity by 80,000 metric tonnes, among others.

Under infrastructure, several projects are expected to be undertaken including roads, housing, health and water projects, with a $2 billion facility as well as other sources of funding.

More than one billion cedis will be invested in industry while under the National Entrepreneurship an Innovation Support Programme, another set of 10,000 entrepreneurs would be trained and financial support provided to about 2000 of entrepreneurs.

A total of GH¢200 million would also be allocated to the Microfinance and Small Loans Centre (MASLOC) to strengthen its capacity under better management practices.

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