Finance minister Ken Ofori-Atta has admitted that the country is facing some economic challenges, a situation he says keeps the President, Akufo-Addo awake at night.
Speaking on the floor of Parliament on Wednesday, November 17 he said the country recorded a total budget deficit of 15 percent of the gross domestic product (GDP) in 2020.
“Mr. Speaker, we are under no illusions as to the economic challenges facing our country today,” he said in his delivery of the 2022 budget statement and government’s economic policy.
“How to ease the sufferings of Ghanaians, transform the economy to create jobs and share the expected wealth across all households, such as providing security and education are what keep the President awake at night. How to broaden the revenue base, keep a grip on expenditure, protect the public purse and at the same time build with urgency the needed infrastructure, collecting revenue, managing our debt and expenditure commitments, and paying the bills to stimulate economic activity are the orders he has given to us, his Ministers and other appointees, to carry out over the next three years.”