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Uncertainty in passage of 2022 budget likely to affect investor confidence – ISSER

Professor Peter Quartey, Economist and Director of ISSER Professor Peter Quartey, Economist and Director of ISSER

2022 budget statement has been rejected

Lawmakers want a review of taxes imposed

Investor confidence could be affected by further delays

Head of the Institute of Statistical, Social, and Economic Research, Professor Peter Quartey has lamented over delay in the passage of the 2022 budget and economic policy of government.

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This comes after the Minority Caucus of Parliament on Friday, November 26 voted to reject the budget following a walkout staged by the Minority Caucus.

Reacting to the development in an interaction with journalists on Monday November 29, Prof. Quartey pointed that further uncertainty and delays surrounding the budget may likely affect investor confidence.

“Investors do not like noise, Finance hates noise. Any little noise you make, and the investor will pull out because you do not want to lose so much capital. Nobody likes uncertainty. Any uncertainty can affect government business,” he explained.

The ISSER Director added that the ongoing impasse around the passage of the 2022 budget could affect the entire governance structure and bring it to a halt as a result of further delays.

“With the wages and salaries, if we are not careful, we will not be able to pay salaries, and you can imagine what happens when the government cannot pay salaries because of the impasse,” he added.

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