Economist, Dr. Sam Mensah has revealed that he looks forward to the finance minister Ken Ofori Atta addressing the issues of industrialization, social safety, agrochemicals, among other issues in the country in the upcoming 2023 budget reading.
The finance minister according to the Majority leader in Parliament, Osei Kyei-Mensah-Bonsu is expected to present the 2023 budget on November 24, 2022, in order to meet the constitutionally mandated deadline of November 30, 2022.
Speaking in an exclusive interview with Univers Business, Dr. Mensah emphasized that there is a need for government to revamp these sectors in order to save collapsing businesses.
” You realise that most businesses have collapsed in recent times so what stimulus packages are the government preparing to revive businesses? I think in the era of globalisation and development, most of businesses are now driving on the Internet. Some need technological infrastructure, how is government investing in most of technological base as well as far as good governance and also productivity is concerned” He said.
He added that, the government should reveal ways it intends to ensure fuel prices, inflation among other commodities are stabilized in the country.
Believing that government should be able to address the hydrochemical industry challenges, fuel prices as well as the need for us to refine our oil in Ghana refining industry for domestic consumption. The government should be able to tell us what they are doing in the interim to be able to control the prices of gasoline as well as LPG because they are the main drivers of the local economy.
Dr. Sam Mensah however said another way of improving the nation’s economic predicament is to close loopholes in tax system
Right now, this era, we find it very difficult to generate revenue and so, if we find it very difficult to generate revenue and our debt level is so high and it means for us do to block the loopholes within the system. I also support anti corruption and institution to be able to gain value for money for us.
Story by: Elizabeth Kabuki Ocansey | univers.ug.edu.gh