Home NEWS Stakeholders discuss 2016 budget

Stakeholders discuss 2016 budget

The processes involved in the preparation of the 2016 budget statement have begun with broad consultation with various stakeholders within the national economy.

Section one of Article 179 of the 1992 Constitution enjoins the President to cause to be prepared and laid before Parliament, at least one month before the end of the financial year, estimates of the revenues and expenditure of the government for the following financial year.
The stakeholder consultation is, therefore, to solicit the input of the various players in the economy on relevant socio-economic issues that would dovetail into the development of key policy interventions by the government.

The move is also to promote budget transparency and accountability, as well as ensure the prudent management of state resources.

A Deputy Minister of Finance, Mr Ato Forson, lauded the input made by stakeholders that culminated into the preparation and presentation of the 2015 budget.

He said it also provided a means of tracking the budget in order that the government did not stray from its projected plans.

Road contractors
The national chairman of the Association of Road Contractors, Mr James Ebo Hewton, bemoaned the imminent collapse of the road sector.

The sector, he said, played a crucial role in the national economy but noted that delays in paying contractors was not only killing individual businesses but also back-rolling development in the road sector.

He claimed, for instance, that contractors who worked on the country’s cocoa roads had not yet been paid two after completing the work.

SEND Ghana, a non-governmental organisation (NGO) which submitted its input based on consultations with Ghanaians in selected parts of the country, recommended an increase in the capitation grant to schools to meet present-day economic realities.

It also called for the promotion of equity in the distribution of teachers to deprived areas, noting that the absence of social amenities such as potable water and electricity in some rural communities was disincentive to teachers posted to such areas.

The NGO also called for a mandatory budgetary allocation for the provision of child-friendly schools for all children, including the physically challenged, to enhance teaching and learning.

Sinking Fund
The African Centre for Energy Policy (ACEP) alleged that the GH¢100 million that was placed in the Sinking Fund set up by the government had been used by the Bank of Ghana (BoG) due to the government’s indebtedness to the bank.

Even though ACEP indicated that the government was performing well in terms of revenue transparency, it lacked in transparency and accountability.

The Peasant Farmers Association of Ghana asked the government to secure funding for fertiliser subsidy and also create a conducive environment to attract private fertiliser manufacturers to set up bases in the country to ensure permanent availability of fertilizer to farmers.
Writer’s email: victor.kwawukume@graphic.com.gh


Please enter your comment!
Please enter your name here