Home Business Finance Minister, Ofori-Atta would make scenario for suspension of fiscal obligation guidelines

Finance Minister, Ofori-Atta would make scenario for suspension of fiscal obligation guidelines


Finance Minister Ken Ofori-Atta has manufactured his situation to Parliament, justifying the suspension of the Fiscal Obligation guidelines for the 2020 financial 12 months.

The Finance Committee of the Residence envisioned to deliberate on the motives presented by Ofori-Atta and current exact to the plenary recommending acceptance or disapproval.

Segment 3 of the Fiscal Accountability Act gives for the suspension of the regulations.

The Functions permits the Finance Minister to suspend the rules — which are maintaining a constructive primary balance and maintaining the credit card debt to GDP ratio at five percent or far better – and then presenting his motives to Parliament for approval.

In the absence of this, the Finance Minister is liable to a vote of censure if the procedures are breached.

With the influence of the novel coronavirus pandemic, the government has built it clear the fiscal accountability procedures are not able to be achieved.

The Finance Minister suggests for President Akufo-Addo to fulfill the alleviation programmes getting rolled out for Ghanaians to mitigate their woes, the rules will have to be suspended.

Talking to JoyNews’ Joseph Opoku-Gakpo, Mr. Ofori-Atta claims he is self-confident MPs would get his arguments for suspending the fiscal accountability guidelines.

But the NDC MPs have currently hinted of causing a vote of censure to be handed in opposition to Ofori-Atta.

The Minority suggests Ofori-Atta already breached the guidelines before relocating to have them suspended.

suspension of fiscal responsibility rules

Speaking to JoyNews Thursday, Minority MP on the Finance Committee John Jinapor insists they will not support acceptance of the request to suspend the Fiscal Obligation Act.

He suggests the added ¢11.8 billion the minister has asked for for in the supplementary finances estimates are not intended for Covid-19 expenditures building the suspension of the Act unacceptable to them.

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