Finance Minister Ken Ofori-Atta says the ruling government is not seeking additional funds.
Delivering the 2022 Mid-Year Budget Review in Parliament on Monday, Ken Ofori-Atta said the government is “committed to staying within the appropriation for 2022".
“In spite of the underperforming revenue handles, we are not seeking additional funds in the mid-year review. We are determined to efficiently use the windfall from the petroleum sector to make up for revenue shortfalls and aggressively improve our revenues,” he told Parliament.
He is confident that the economy will soon be back on its feet.
Hardship & The Russia Ukraine war
The Finance Minister has meanwhile acknowledged the difficulties Ghanaians are going through saying: “The state of affairs is quite a painful one for me to report to you, it is hard to see our people lament about the prices of basic commodities, these are difficult times for government and indeed, for the Finance Minister.”
According to him, “Towards 2022 Russia invaded Ukraine, a situation that worsened the already weakened global supply chain exacerbated by high conditions. These have had a debilitating toll on the cost and standard of living of our people. Mr Speaker, food prices are rising, fuel and transport fares are up, the cost of borrowing for businesses and for households has increased, the cedi has depreciated and the economic outlook has dipped significantly.”
"It's amazing how we can find humor in the most difficult situation that keeps our spirit alive...these are not what we desired but we believe in the overcoming spirit of the Ghanaian people..." he added.
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