2020 Budget: Focus on road and health sector – Finance c’ttee to gov’t

The Chairman of the Finance Committee, Dr. Mark Assibey Yeboah has asked the government to pay attention to the road and health sector in the 2020 budget.

The Finance Minister is expected to present the 2020 budget and financial policy of the government to Parliament next week.

It will be the fourth budget of the Akufo-Addo administration, in accordance with Article 179 of the 1992 Constitution.

Addressing the media in Parliament on Thursday, Dr. Assibey Yeboah said the government must ensure the Road Fund and the National Health Insurance Fund are not capped.

“Left to me alone, the Road Fund and National Health Insurance should not be capped for 2020. It would be huge if the government decided not to cap these funds. That will free up a lot of resources from these two places. Every budget cannot solve all the problems. So for 2020, focus on roads and the health sector,” he said.

The Deputy Majority Leader in Parliament, Adwoa Safo earlier announced the date for the presentation of the 2020 budget as November 14, 2019.

During her opening remarks in the House in October, she said “Mr. Speaker in this meeting, we will also have the budget hearing which is tentatively scheduled for the 14th of November and the dates will be scheduled on sectorial bases. Estimates of the budget will be interrogated at the committee levels and subsequently, this House will pass the Appropriation Bill.”

EIU predicts government will overspend its budget in 2020

The Economist Intelligence Unit (EIU) has predicted that the government will struggle to lower its expenditure in the run-up to the 2020 general elections.

Despite government passing the Fiscal Responsibility Act last year aiming to limit future budget deficits to a maximum of 5% of GDP, the London-based business advisory firm expects the government to record a 5.5 percent budget deficit next year.