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2012 budget to bring hope to the jobless?

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Minister of Finance and Economic Planning, Dr Kwabena Duffuor, is currently in Parliament delivering the last budget statement for 2012 of the NDC government.

Themed “Infrastructure Development for Accelerated Growth and Job Creation”, the budget is expected to bring hopes to the jobless in the country.

In its Tuesday edition, the Daily Graphic reported that the National Stabilisation Levy, which was imposed on mining companies, financial institutions and some large firms in 2009, will be scrapped in 2012. 

It also reported that the GHc3 billion commercial loan from the China Development Bank is expected to feature prominently in the execution of next year’s budget to finance the Western Corridor roads’ project, railway and gas processing facilities among others. 

This year’s budget statement would be the last of the current NDC administration whose first term officially ends in January 2013.

Three previous budgets by the current administration have, however, affected positively the lives of Ghanaians.

Firstly, for the first time in Ghana’s history, a one million cocoa production has been attained.

Also, fiscal deficit in 2008 was 14.7 per cent to GDP but has dropped to 2 percent GDP.

Inflation, which was 18 per cent in 2008 now stands at 8 per cent, whilst interest rates have continued to decline.

For the first time Ghana has met all four criteria for the West Africa Monetary Zone , it is on the verge of recording its highest GDP in its history, whilst public sector wage bill constitutes a single largest expenditure for government. 

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