Business News of Saturday, 16 March 2013
Parliament has approved the 2013 Budget and Financial Policy of government after concluding the heated four days debate on the budget.
The last day of the debate was characterized by exchanges when the leadership of both sides and the Minister of finance Seth Terkpe advanced reasons for the approval of the budget.
Mr. Terkpe disagrees with the Minority Caucus in characterizing the budget as one that will take the nation nowhere.
Parliament which has control over the public purse is mandated by the constitution to approve the budget of government before it can spend.
The four days debate highlighted the successes, prospects and challenges in the various sectors of the economy.
In response to issues raised by the Minority, the Minister of Finance Seth Terkpe emphasized government’s determination to address the deficits and over-expenditure that characterized the 2012 budget.
The Majority Leader, Benjamin Kunbour said the duality of the budget which entails expenditure and revenue mobilisation should have been discussed side by side but the greater percentage of the debate only centered on the expenditure.
Speaking about the 2012 budget deficit the deputy Minority Leader Dominic Nitiwul stated that government owes everyone including Ministers of State and MPs.
The MP for Nadowli-Kaleo, Alban Bagbin explained that government is taking the country in the right direction with the 2013 budget which he described as the right budget for the nation.