Deputy Communications Director for the New Patriotic Party (NPP) in the Upper East Region, Andrew Atariwini, addressed key aspects of the midyear budget review presented by the Minister of Finance in Parliament, reminding Ghanaians of the positives of the statement.
Mr. Atariwini emphasised the importance of establishing clear rules regarding borrowing practices in Ghana, pointing out that unchecked debt accumulation could become unsustainable for the country in the long term.
“Over the years, what has been bothering this country is, we don’t have a rule regarding how we borrow and so you can go to a level of extent that your debt becomes unbearable.” He added, “Now there’s a need to make sure that all these situations are curbed under certain well-defined rules of engagement to make sure that fiscal policy is distinct.”
Mr. Atariwini noted that there was no increase in taxes during this midyear review, signalling a commitment to fiscal responsibility and living within the country’s means. He underscored the government’s efforts in implementing interventions to support vulnerable segments of the population as indicators of discipline and focus in restoring the robust economy of previous years.
“We didn’t also increase taxes. As a matter of fact, we are living according to our means. And look at the interventions for the vulnerable? All these are indicators that the government is disciplined, the government is focused on restoring the boisterous economy that we had some three or five years back.”
Regarding the increase in public debt from 658.6 billion to 742 billion Ghana cedis, Mr. Atariwini acknowledged that Ghana heavily relies on borrowing to fund essential capital investments such as infrastructure projects, including roads and hospitals under the Agenda 111 initiative and the provision of free SHS education.
He defended the necessity of borrowing to finance infrastructure development, citing projects like the newly commissioned 320-unit housing for the Ghana Police and ongoing road constructions as critical investments for national development. Responding to concerns about the reintroduction of road tolls, Mr. Atariwini said money is needed to be able to construct the toll booths across the country. He related this to some reasons why there is a need to borrow.
Furthermore, he emphasised the collective responsibility of Ghanaians, politicians, and economic managers to change the country’s economic trajectory positively, suggesting a shift in paradigm away from over-reliance on borrowing towards sustainable economic practices. He acknowledged the support received from international bodies like the International Monetary Fund (IMF) but stressed the need for domestic determination and effective management of resources to achieve economic stability and growth.
“The IMF has supported but I believe that it is now a determination from you, the ordinary Ghanaian, we the politicians and the managers of our economy that we want to change the paradigm,” he stressed.
Source: A1Radioonline.Com|101.1MHZ|Gifty Eyram Kudiabor|Bolgatanga|
