Member of Parliament for Okaikoi Central and Chairman of the Finance Committee, Patrick Yaw Boamah, has applauded the Minister of Finance for his transparency in outlining Ghana’s financial state under Section 28 of the Public Financial Management Act.
He acknowledged the challenges faced by Ghanaians, emphasizing the government’s commitment to addressing economic hardships.
Commenting on the review of the 2024 budget statement and economic policy of the government on Thursday, July 25, Patrick Boamah stated that the data provided by the Minister gives hope and confidence to the Ghanaian people.
The New Patriotic Party (NPP) government, he said, has shown it is capable of taking Ghana to the next level.
Patrick Boamah observed that despite the challenges of the COVID-19 pandemic, Ghana’s growth rate had been revised to 4.7% by the International Monetary Fund, surpassing the best growth figures under the previous administration.
“Leadership is key,” he said and drew comparisons to India’s rise in the manufacturing sector.
He emphasized the government’s achievements in infrastructure and cited significant projects and policies aimed at job creation and industrial growth.
He explained, “The government introduced an automobile policy that led to the establishment of over 14 companies assembling vehicles for export, creating numerous jobs.”
He underscored the success of the One District One Factory (1D1F) initiative which he said has created over 170,000 jobs with 142 operational factories.
Boamah argued it is crucial to support the government in this project and stressed the economic importance of industrialization.
He praised the government’s efforts in the tourism sector and cited the Beyond the Return program that recently generated $1.8 billion.
He said, “Innovative ideas and programs will transform our economy and generate more revenue.”
He pointed to the expansion of social programs, including the Livelihood Empowerment against Poverty (LEAP) program, which saw investment rise from GH¢49 million in 2016 to GH¢423 million.
He stated that the National Health Insurance Scheme (NHIS), which was tethering on the verge of collapse in 2016, has now expanded to cover prostate cancer care, dialysis, and childcare, reflecting the government’s commitment to social welfare.
Hon Boamah stressed the government’s Mid-year Budget review, which outlined these achievements and aimed to inform Ghanaians of the progress made since the pandemic.
“We believe that the people will recognize our efforts and return us to power,” he stated confidently.