An International Monetary Policy Advisor with EFRAG Dr. Jerry Kombat Monfant is advising the Haruna Iddrisu led National Democratic Congress (NDC) Caucus to demand a review of the revenue targets outlined in the budget.
Speaking on the Professionals Forum Hour on Radio Gold, the government should be compelled to reduce its revenue expectations to a 10% increment.
The Nana Akufo-Addo led government through the Finance Minister Ken Ofori presented a controversy laden 2022 Budget and Financial statement to parliament on 17 November 2021.
Despite struggles to achieve its revenue target of ¢70billion this year, government in the budget projected to raise a ¢100billion in 2022.
The budget was rejected by parliament on 25 November 2021 after the New Patriotic Party caucus staged a walkout after calling for division, in a bid to avoid the disgrace of being defeated by the opposition in Parliament during a vote on the budget.
The Haruna Iddrisu led NDC caucus in Parliament has tabled five conditions on which it would accept a reviewed budget.
Top of the NDC caucus’ demand is the exclusion of a proposal to impose a 1.75% tax on all electronic transactions.
Ahead of a showdown in Parliament today, Dr. Jerry Kombat Monfant says the minority must also demand a realistic revenue target.
The International Monetary Advisor is of the opinion that the projection to increase revenue by 43% should be reduced to 10%.
He said there was nothing in the budget that accounted for how government would attain this target as the biggest new revenue measure E-Levy only accounts for only 2% of the projected total revenue.
Dr. Jerry Komat Monfant said the ¢100billion revenue target is creating credibility challenges for the 2022 budget.
He said the budget would only worsen Ghana’s reputation on the International market as the country’s ‘name had been destroyed completely’ on the capital market
An International Monetary Policy Advisor with EFRAG Dr. Jerry Kombat Monfant is advising the Haruna Iddrisu led National Democratic Congress (NDC) Caucus to demand a review of the revenue targets outlined in the budget.
Speaking on the Professionals Forum Hour on Radio Gold, the government should be compelled to reduce its revenue expectations to a 10% increment.
The Nana Akufo-Addo led government through the Finance Minister Ken Ofori presented a controversy laden 2022 Budget and Financial statement to parliament on 17 November 2021.
Despite struggles to achieve its revenue target of ¢70billion this year, government in the budget projected to raise a ¢100billion in 2022.
The budget was rejected by parliament on 25 November 2021 after the New Patriotic Party caucus staged a walkout after calling for division, in a bid to avoid the disgrace of being defeated by the opposition in Parliament during a vote on the budget.
The Haruna Iddrisu led NDC caucus in Parliament has tabled five conditions on which it would accept a reviewed budget.
Top of the NDC caucus’ demand is the exclusion of a proposal to impose a 1.75% tax on all electronic transactions.
Ahead of a showdown in Parliament today, Dr. Jerry Kombat Monfant says the minority must also demand a realistic revenue target.
The International Monetary Advisor is of the opinion that the projection to increase revenue by 43% should be reduced to 10%.
He said there was nothing in the budget that accounted for how government would attain this target as the biggest new revenue measure E-Levy only accounts for only 2% of the projected total revenue.
Dr. Jerry Komat Monfant said the ¢100billion revenue target is creating credibility challenges for the 2022 budget.
He said the budget would only worsen Ghana’s reputation on the International market as the country’s ‘name had been destroyed completely’ on the capital market.
The Professionals Forum Hour broadcasts on @Radiogold905fm on Facebook and Radio Gold 90.5 FM on Radio Streaming apps.
Story: Sena Nombo/Radiogoldlive.com
