Chief Director of the Ministry of Finance, Eva Mends, has expressed the ministry’s appreciation for the unwavering commitment of media representatives and stakeholders in clarifying the intricacies of the budget to the Ghanaian public.
In a statement read on her behalf at a post-2024 Budget Workshop for members of the Parliamentary Press Corps (PPC) and the Institute of Financial and Economic Journalists (IFEJ), Madame Mends emphasized the significance of the budget, authorized by the President under the Public Financial Management Act, 2016 (Act 921).
Themed “Pursuing Growth and Development within a Stable Macroeconomic Environment,” the budget, presented in two volumes, outlines policy actions aimed at fostering growth within a stable macroeconomic framework. Volume one, the traditional budget, and volume two, a recent addition, shed light on the sectoral performances of Ministries, Departments, and Agencies (MDAs) from 2017 to date.
The Chief Director underscored the importance of the second volume, stating that it provides Ghanaians with updates on projects and programs undertaken by various MDAs, showcasing their impact on the economy.
This transparency, she noted, is crucial to demonstrate to the public how government funds are utilized.
Acknowledging vibrant media commentaries and expressing the government’s keen interest in the public’s response, she urged the media to sustain the momentum, as these commentaries contribute to planning necessary adjustments and explanations.
The technical briefing during the workshop delved into the macro-fiscal performance projected for the 2024 budget, the government’s collaboration with the International Monetary Fund (IMF) under the PC-PEG, and key priorities for the upcoming year.
Highlighting positive macroeconomic indicators, Eva Mends noted a steady decrease in inflation, a stabilized exchange rate with modest depreciation, and resilient economic growth exceeding projections. She expressed confidence in Ghana’s brighter future growth prospects.
The budget introduces various policy interventions, including tax measures, to cushion citizens during the economic recovery.
She emphasized the need for deliberate communication of these policies to the public, cautioning against misinformation.
She urged journalists to seek accurate information and utilize technical officers for assistance in explaining the budget to the public.
“We need your help to explain the Nkunim budget to Ghanaians, and our technical officers are ready to assist you with all the relevant answers to your questions,” she stated.
In his remarks, Vice Dean of the PPC, Stephen Odoi-Larbi, appealed to the Ministry of Finance to engage its members during the budget-making process for their input.
He stressed the importance of the workshop and the collaborative effort to equip journalists with the tools and knowledge necessary to accurately communicate the intricacies of the Nkunim Budget to the Ghanaian public.