• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Minority to resist 2024 budget if gov’t fails to promote pro-poor growth

2 years ago
in Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
91
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Minority to resist 2024 budget if gov’t fails to promote pro-poor growth

The Minority in Parliament has cautioned, indicating its intention to oppose the government’s forthcoming 2024 budget statement if it fails to give precedence to the welfare of Ghanaian citizens and businesses.

According to the Minority Leader, Dr. Cassiel Ato Forson, they are advocating for measures that would provide relief to the middle class, a demographic that has not witnessed substantial improvements in living standards from past budgets. Dr. Forson emphasized that the Minority will subject the budget to rigorous scrutiny.

The Budget Statement and Economic Policy of the Government for the 2024 Financial Year is scheduled for presentation on November 15, 2023, by the Finance Minister.

Addressing the parliament during the resumption of the Third Meeting of The Third Session of the Eighth Parliament, Dr. Forson conveyed in his opening statement, “let me be blunt; the upcoming budget statement will encounter resistance if it does not prioritize the needs of people and businesses. That is our bottom-line.

So, if the government knows that its upcoming budget does not prioritize the needs of the people, then they should get ready for a Showdown!”

Ghana has revised down its growth forecast for this year due to a sluggish economy, global challenges, and the impact of fiscal austerity measures agreed upon with the International Monetary Fund (IMF).

RelatedPosts

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

The nation now anticipates a real gross domestic product (GDP) growth rate of 1.5% for the current year, a reduction from the earlier projection of 2.8%. Finance Minister Ken Ofori-Atta made this announcement during a mid-term budget review in late July.

Ghana has embarked on a debt restructuring initiative, part of a $3 billion bailout program established with the IMF in May. Compliance with the IMF’s requirements involves timely negotiations with investors, as well as continued efforts by the central bank to control inflation.

The IMF program’s terms include Ghana’s commitment to curbing expenditure and enhancing revenue collection. The country, which ranks as the world’s second-largest cocoa bean producer, aims to reduce its debt-to-GDP ratio to 55% by 2028, down from 71.3% recorded at the close of 2022.

In line with the IMF-supported program, Ghana is projected to improve its primary balance and achieve a surplus equivalent to 1.5% of GDP for the years 2025 through 2028. The authorities’ objective is to elevate the government revenue-to-GDP ratio to over 18.5% by the conclusion of the three-year program, up from 15.7% in 2022, considering Ghana’s relatively low tax-to-GDP ratio compared to its potential.

Tags: 2024 budgetMinority to resist 2024 budget if gov’t fails to promote pro-poor growthpro-poor growth
No Result
View All Result

Highlights

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

Domestic Debt Surpasses External Debt for the First Time in Years

Aliko Dangote Becomes the First African to hit the $30 Billion Mark

GoldBold Opens Licensing for Jewellery, Fabrication and Refinery

IMF Managing Director Appoints Christian Mumssen as Director of the Strategy, Policy, and Review Department

Trending

Banking & Finance

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

October 23, 2025

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold A...

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

October 23, 2025

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

October 23, 2025

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

October 23, 2025

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

October 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.