The market responds favorably to clarity, predictability, and decisiveness – Gabby on the passing of the 2023 budget

Gabby Otchere-Darko, a prominent New Patriotic Party (NPP) member, praised Parliament for the way it handled the 2023 budget declaration.

On Tuesday, December 6, the House passed the 2023 budget statement.

The Minority requested that the administration implement significant expenditure cutbacks in order to address the issues facing the economy during that day’s debate in Parliament.

If the administration does not reduce expenditure, part of the government’s tax revenues would suffer, according to Minority Leader Haruna Iddrisu.

“This group’s demand is that significant spending reductions take place; otherwise, part of your tax revenues may suffer at our hands. For instance, we shouldn’t pay him the GHS1.4 billion allocated for contingency votes, he added.

Osei Kyei-Mensah-Bonsu, the majority leader, stated, “Some roads have begun; the intention is to ensure that they do not deteriorate, they are not left unattended to.”

The Appropriations Bill has not yet been approved by the House.

The former executive director of the Danquah Institute and Mr. Otchere-Darko commented on this in a tweet, saying, “Aside from debt restructuring, we can’t rule out the good impact of the rapid decision by Parliament to enact the budget on the strengthening of the cedi.

“The market responds favourably to clarity, predictability, and decisiveness. It’s admirable how the Parliament is handling the problem. ”

Source: Amos Ekow Coffie