MPs approve budget for 2013 fiscal year

Members of Ghana’s Parliament on Friday closed the debate on the 2013 budget statement with the majority hailing it as a good fiscal policy.

They said the budget clearly shown the road map for the country to reach a middle income status.

The Minority however insisted that it offered no hope and that government had overspent the tax payer’s money and should offer explanation to Ghanaians.

This follows a motion for the House to approve the Financial Policy for the year ending December 31, which was moved by Mr Seth Terkper, Minister of Finance on Tuesday March 5.

The motion was seconded on Tuesday March 12, by Mr James Klutse Avedzi, Chairman of the Finance Committee.

It was on the theme: “Sustaining Confidence in the Future of the Ghanaian Economy.”

Dr Benjamin Kunbuor, Majority Leader and Minister for Government Business who ended the debate urged members to put criticisms aside and put the budget statement in its proper context to understand the issues

He said the fundamental issues that should engage the minds of every Member of Parliament is how to address the causes of deficit.

Mr Alban Sumani Bagbin, a member of the Coordinating team on Presidential Special Initiative said Ghana is making progress as a nation as life expectation is now 64 years.

Mr Clement Humado, Minister of Food and Agriculture said the budget showed a clear direction for the sector as it aims accelerating the modernisation of agriculture.

He said the sector is the main engine of growth to transform the economy from low income status to middle income.

Mr Dominic Nitiwul, Deputy Minority Leader said GH¢ 2.8 billion, which is over the 2012 appropriation Act of GH¢2.6 billion has been spent but no explanation has been assigned to the profligate expenditure.

He said Ministers who had oversight responsibilities over the Ministries, Departments and Agencies had to explain the reasons for the over spending.

Source: GNA