The ratification of the Finance Ministry’s 2023 budget estimate of more than GHS 2 billion has been postponed by Parliament.
This came about as a result of the Minority’s reservations regarding the Ministry’s estimated allocation of GHS 1 billion for resource mobilization.
The organization claimed it cannot accept the Ministry’s approval unless it provides the necessary information on the essentials of the allocation for resource mobilization.
Speaking on the floor of the legislature, Minority Leader Haruna Iddrisu claimed that the fiscal estimate was unworkable.
In light of this, he iterated as follows:
“We want the government to cut expenditure so we are not convinced. Why do you need GHS 1 billion to mobilize resources.
As far as we know we know, resource mobilization is collection of taxes in a manner which is effective and efficient.
So if the the Ministry of Finance does not give a convincing explanation, we think that this is part of what they should be cutting from the budget to save the country the GHS1 billion.
Isn’t it GRA which should be mobilizing resources by collecting taxes? Why are you giving this money to the Ministry of Finance? To do what?” he asked.
Meanwhile, Abena Osei Asare, the deputy finance minister, disagrees, claiming that the allotment is appropriate.
She continued by saying that one goal of resource mobilization is to improve the institutional capacity for economic management.
Below are her words:
“As part of the breakdown, we showed that GHS 5.2 million of this is going to be used for strengthening institutional capacity for economic management.
We also mentioned that the Financial Sector Development project where we are going to maintain and operate the core banking system is also part of this allocation.
That is GHS 79 million. The Ghana Development Finance project which is under the development bank operationalization will also take about GHS 110 million.
The GIFMIS ICT infrastructure system will also be upgraded and it also take a take portion.“
Conclusion
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