By Elsie Appiah-Osei, GNA
Accra, Nov. 11, GNA – The government has indicated that the 2027 Budget Statement and Economic Policy, scheduled to be presented to Parliament on Thursday, November 12, will introduce no new taxes.Â
Mr Thomas Ampem Nyarko, the Deputy Minister for Finance, disclosed this during a closed-door engagement with members of the Parliamentary Press Corps ahead of the presentation in Parliament House on Wednesday.
According to Mr Ampem Nyarko, also the National Democratic Congress and Member of Parliament for Asuogyaman, “the government intended to rely on savings from expenditure rationalisation and spending cuts to finance its flagship programmes and priority development projects,” he said.
He said Dr. Cassiel Ato Forson, the Finance Minister, would outline how the government plans to mobilise and allocate resources to implement its priority programmes without introducing additional tax measures.
The Deputy Minister explained that savings from reductions in government expenditure were expected to create the fiscal space needed to support the administration’s development agenda.
“The position suggests a greater emphasis on expenditure efficiency, control of public spending, and directing available resources towards programmes with significant economic and social benefits,” he added.
Mr Ampem Nyarko also indicated that the 2027 Budget will provide further details on the government’s plans for the utilisation of petroleum revenue in the coming years.
He said the Finance Minister was expected to explain how oil revenues would be deployed to support infrastructure development and other national priorities, following the decision to use oil inflows to fully fund the proposed Accra-Kumasi Expressway.
The Expressway is one of the major infrastructure projects expected to improve road transportation between Ghana’s two largest economic centres.
GNA
Edited by Linda Asante Agyei
Reporter: Elsie Appiah-Osei, GNAÂ
[email protected]Â