Director of Business Operations at Dalex Finance, Joe Jackson, says the 2023 Budget has woefully failed to tackle the situation that landed the country\u2019s economy in the trenches.<\/p>\n\n\n\n
According to him, the government should have used the opportunity of the budget statement to propose policy measures that would tackle the debt issue head-on to prevent further loss of investor confidence, however, it failed to do so.<\/p>\n\n\n\n
He noted that a great policy measure would have entailed the government making significant cuts to its expenditure budget.<\/p>\n\n\n\n
Instead, Joe Jackson has noted that government is still indulging in its profligate ways while imposing austerity on the rest of Ghanaians.<\/p>\n\n\n\n
Speaking on JoyNews\u2019 PM Express, he said, \u201cThe cedi tanked because foreign investors lost confidence. And the foreign investors lost confidence because they could tell from our numbers that we\u2019re unable to pay our debts.<\/p>\n\n\n\n
\u201cWe\u2019ve now confirmed, the Deputy Minister has confirmed that if there was ever any doubt that we can\u2019t pay. Borrowing 61billion cedis is not what you do when you can\u2019t pay. You take an axe to your expenditure.\u201d<\/p>\n\n\n\n
He stated that after perusing the budget statement he realized government\u2019s failure to apply sound judgement when it came to the distribution of funds.<\/p>\n\n\n\n
According to him, key ministries capable of championing an economic recovery were being starved of funds while certain agencies whose usefulness in the government machinery have recently been questioned were being furnished with disproportionate amount of funds.<\/p>\n\n\n\n
\u201cI\u2019ll be honest just this evening I got what I thought was a reliable version of the tables and I started looking through, some of the numbers just don\u2019t make sense to me. Why is there 80billion still there for the Cathedral? Forgive me, I don\u2019t know. Why is there a contingency vote of 1.4 billion?<\/p>\n\n\n\n
\u201cThe office of government machinery, I don\u2019t care where you came from, why is it at 1.4billion? Guess what? Ministry of Food and Agric, do you know how much we\u2019re giving them? 1.2billion. Do you know how much we\u2019re spending on free SHS? 2.9billion. The Council of State is receiving more money than the Food and Agric Ministry,\u201d he said.<\/p>\n\n\n\n
Joe Jackson has opined that the 2023 budget was a missed opportunity for the government to bridge the trust gap between the citizenry and the government and the market, both local and international.<\/p>\n\n\n\n
\u201cThe point is this, we want reassurance, we want to believe that this government can even carry the rest of the country with the austerity budget it has to impose. We want to believe somebody is trying to bridge the trust gap between the government and the public. That can be done when you trim down and all of us feel that you\u2019re taking the pain as much as we have to take the pain,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Director of Business Operations at Dalex Finance, Joe Jackson, says the 2023 Budget has woefully failed to tackle the situation that landed the country\u2019s economy in the trenches. According to him, the government should have used the opportunity of the budget statement to propose policy measures that would tackle the debt issue head-on to prevent […]<\/p>\n","protected":false},"author":8,"featured_media":27803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[43,1],"tags":[9042,8173,5249,7227,5059,8364,622,8712,6725,7916,1458,5196,746,12354,6496,136,12502,2264,10954,7356,6780,10634,10742,8711,5612,2627,9712,213,6348],"class_list":["post-27801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news","category-news","tag-borrowing","tag-bridge","tag-budget","tag-cathedral","tag-cedi","tag-cedis","tag-council-of-state","tag-dalex-finance","tag-debt","tag-deputy-minister","tag-distribution","tag-economy","tag-feel","tag-finance","tag-food","tag-free-shs","tag-ghanaians","tag-government","tag-international","tag-jackson","tag-joe-jackson","tag-lost","tag-market","tag-ministry-of-food-and-agric","tag-money","tag-pm","tag-reassurance","tag-shs","tag-us"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=27801"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27801\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/27803"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=27801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=27801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=27801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}