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Reducing current economic hardship must be priority in 2023 Budget – some Ghanaians express concerns

The Finance Minister, Ken Ofori-Atta is expected to present the 2023 budget on Thursday, November 24, 2022.

Ahead of the budget presentation, some Ghanaians have urged the government to ensure that the budget includes plans that would alleviate the plights of citizens.

Some Ghanaians have been lamenting about the consistent increase in prices of petroleum products, foodstuff and other commodities which have greatly affected their cost of living.

Speaking to Joy Business ahead of the budget, some Ghanaians posited that it would be prudent for the government to focus on addressing the challenges facing the economy.

“I think if the Finance Minister is able to put the economy in shape, it will be best. Everyone is crying that things are hard so he must try to put figures in the right perspective so that he can save the nation”, a citizen said.

Some people also reiterated the need for the government to partner with the private sector and the local industries to develop the sector to help counter the high unemployment rate in the country.

“I expect the Finance Minister to help the indigenous industries to help them develop the local products, especially the agribusiness sector because most of the things that we use in this country are imported and that has escalated the dollar rate and I also expect him to partner with the private sector so that they’ll create more businesses”, another added.

Meanwhile, the Institute of Economic Affairs (IEA) has encouraged the government to make sure that the 2023 budget will chart a new course to restore economic stability while laying the foundation for a long and sustainable growth.

The IEA described the 2023 Budget as a make or break one”, saying if it fails to get it right, near-irreversible damage could be done to the economy.

According to the institute, the budget must not be business as usual.

It therefore wants a budget that will demonstrate consideration for a new fiscal policy paradigm capable of delivering sustained macroeconomic stability and growth as well as indicate an ambitious revenue mobilisation profile.

Source: Ghana News

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