2021 Budget: Government outlines five pillars towards economic recovery

Osei Kyei-Mensah-Bonsu

Government on Friday outlined five key pillars in the 2021 Budget to resuscitate the Ghanaian economy, ravaged by the Covid-19 pandemic.

The 2021 Budget Statement, on the theme: “Completion, Consolidation and Continuation,” is intended to rejuvenate the national economy towards the path of recovery.

Apart from the GH¢100-billion Coronavirus Alleviation and Revitalisation of Enterprises (CARES programme), otherwise known as ‘Obaatanpa’, government announced plans to scale up the COVID-19 vaccination exercise, implement ‘Agenda 111’, intensify public sanitation programme, roll-out job opportunities and resource the security agencies, while continuing the flagship initiatives.

The budget, for the first time, was presented by Mr Osei Kyei-Mensah-Bonsu, the Minister of Parliamentary Affairs, who was given extra responsibility as Caretaker Minister of Finance.

The Finance Minister-designate, Mr Ken Ofori-Atta, is currently receiving treatment in the USA over COVID-19 complications, and yet to be vetted by Parliament.

Mr Kyei-Mensah-Bonsu mentioned strategies government would adopt to ensure a strong micro-economic fundamentals for economic sustainability, pursue robust social systems to protect lives and livelihoods, implement reforms to enhance the revenue mobilisation drive, and build human resource anchored on science and technology.

He also presented the 2020 Petroleum Revenue receipts in accordance with the Petroleum Revenue Law.

The Budget was presented in accordance with Articles 179 and 180 of the 1992 Constitution, which required government to present its fiscal policy for the year.

Some dignitaries present included Vice President Mahamudu Bawumia, Chief of Staff, Madam Akosua Frema Osei-Opare, Mrs Irene Osei Kyei-Mensah Bonsu, Wife of the Minister of Parliamentary Affairs, officials of the Finance Ministry, Bank of Ghana and the Ghana Revenue Authority.

Source: GNA

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