Ghana expects solutions to deficit, power crisis in budget

With the current power crisis worsening, many are looking forward to concrete plans and timelines to resolving it.

The government’s budget statement is due to be read by the Finance Minister Seth Terkper today. Though officials are tight-lipped on specifics, a release from the ministry said it will focus on stabilising the economy, infrastructure development and accelerated growth.

An entrepreneur and Chief Executive Officer of Model Metals, Augusto Obodai, says he is expecting the budget to outline plans to address the ongoing power crisis.

He told Joy News’ Anny Osabutey the erratic power supply is negatively affecting his business.

“Honestly, sometimes you come and you don’t even know when the power will go off. You come to the office, open up, and there is no light," he said.

“Some clients will come fighting you for delays in deliveries."

He said with the type of job he does, he needs bigger generators which are capital intensive to acquire.

He is hoping the government will rectify the major challenge in providing power to the country.

Meanwhile, some minority members of parliament are speculating increment in taxes.

MP for Effutu, Alexander Afenyo-Markin, who spoke to Joy News' parliamentary correspondent, Elton John Brobbey, said government has not shown enough fiscal discipline and called for more transparency in its financial dealings with the people.

Professor Peter Quarter, head of Economics Department at the University of Ghana, said government must reduce the budget deficit.

He said the deficit is over 12 per cent of GDP and hoped government will raise more revenue through expanding the tax net and cut down on spending.

He does not necessarily expect an increase in taxes. He is also hoping to see real policies towards reducing unemployment in the country.