Bismark Osei, an economist and lecturer at C.K. Tedam University of Technology and Applied Sciences (CKT-UTAS), has emphasized the importance of the National Economic Forum as a platform for collaboration in tackling the country’s economic challenges.
He noted that the current administration’s approach has the potential to bring about positive change. Drawing comparisons with the leadership of the former administration, Mr. Osei believes that President John Dramani Mahama’s policies could evolve into a more refined and impactful version, creating a new path for Ghana’s economic future.
“I see something new happening because if you take a dynamic perspective on the president’s policies and actions, I see him as a rebranded Mahama,” he said.
Speaking on A1 Radio, he addressed the critical issue of corruption, suggesting that the Office of the Special Prosecutor (OSP), led by Kissi Agyebeng, could play a key role in driving anti-corruption efforts.
“One of the ways I see, for instance, is the Office of the Special Prosecutor,” he stated, praising Mr. Agyebeng for his dedication and effectiveness in the fight against corruption.
However, Mr. Osei also pointed out that certain government policies, such as the ‘Planting for Food and Jobs’ initiative, had been tainted by political favoritism. He urged that independent, results-oriented individuals—rather than political appointees—should manage these programs to ensure their success and transparency.
“If we want results from such policies, we should allow independent people who are results-oriented and not politicians to manage these programs,” he said.
Looking ahead to the upcoming budget on March 11, 2025, Mr. Osei expressed concerns about the removal of certain levies and taxes, which could cost the country over 8 billion cedis. He called for alternative revenue-generating measures to offset this loss, advocating for a strategic plan to increase Ghana’s tax-to-GDP ratio, currently at 15.1%.
“One key issue is the removal of levies and taxes that will cost us over 8 billion cedis. We expect a well-structured plan to introduce alternative taxes that will help raise our tax-to-GDP ratio beyond the current 15.1%,” he noted.
Additionally, he stressed the need for clear governmental actions to support the 24-hour economy program, highlighting the importance of fixing infrastructure such as streetlights and potholes to make this vision a reality.
“I think the budget should provide strong incentives to assure us that the government will implement the necessary enforcement mechanisms to operationalize the 24-hour economy effectively,” he said.
Among other key expectations for the budget, Mr. Osei pointed to the introduction of the Women’s Development Bank, which he believes would be a significant step in empowering businesswomen and enhancing their economic contribution.
“I believe this budget will outline plans for the Women’s Development Bank. This is one of the novel ideas that will strengthen the economic relevance of businesswomen,” he added.
Source: A1Radioonline.com|101.1Mhz|Gifty Eyram Kudiabor|Bolgatanga
