The Member of Parliament for Yapei Kusawgu, John Abdulai Jinapor, has asked Ghanaians not to expect any improvement in their standard of living after the presentation of the Mid-Year Budget Review.
He explains his understanding of the statement not being a supplementary one, means it is not going to have any effect on the economic situation of the country.
The former Deputy Minister of Energy explains that, the budget, if it was supplementary, would have impacted the current situation.
Speaking with TV3’s parliamentary correspondent in the chamber Tuesday, July 23, 2024, ahead of the budget review presentation, the MP indicated that the inflation rate, exchange rate, general cost of living amongst others, is not going to change.
He noted that government is only going to provide indicators which will not bring any much changes.
“The indication I’m getting is that, it will not be a supplementary budget. When we say it is a supplementary budget it means that it will be a variation of the appropriation, either asking for more money or you want to reduce some taxes and then revenue will reduce so want to then reduce expenditure.
“So, be that as it may, being just a statement, I don’t see anything substantive or any major change that will come out of the budget. It simply means that he is going to give us the indicators and what we expect which means that there wouldn’t be much changes.
“So, if you look at the current economic trajectory; if you look at inflation, exchange rate, lending rate, cost of living, cost of fuel, cost of electricity, it means that the situation is not going to improve,” he indicated.
The Finance Minister, Dr. Mohammed Amin Adam, is expected to present the Mid-Year Budget review in Parliament today, Tuesday, July 23, 2024.
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