Mr Ken Ofori-Atta, Minister-designate for Finance

Minister-Designate for Finance Mr Ken Ofori-Atta has attributed his speedy recovery in the United States of America (USA) to the Almighty God and prayers from Ghanaians.

Mr Ofori-Atta has been in the US over the last few days for treatment of post COVID-19 complications.

Speaking at the Virtual PwC Post Budget Forum yesterday, from his base in the America, the Finance Minister nominee noted that doctors who are taking care of him are even surprised with his fast recovery rate.

He thanked the President’s special representative at the Ministry of Finance, Charles Adu Boahen and the personnel at the ministry for effectively handling the 2021 budget preparation and presentation.

The Finance Ministry on February 14, announced that Mr Ofori-Atta was traveling to the US for a special medical review based on doctor’s advice.

This was as a result of the medical complications he suffered after recovering from COVID-19 in December last year.

Mr Ofori-Atta requested for scheduling of his time for vetting by the Appointments Committee of Parliament as his condition did not make it possible for him to face the committee.

He was expected to return to Ghana in two weeks, but could not make it as anticipated.

Meanwhile, speaking from the USA, the Finance Minister nominee maintained the various programmes and policy measures outlined in the 2021 Budget presents a fine opportunity to quickly turn things around.

On the GH¢100 billion ‘Obaatan Pa’ GhanaCares programme, Mr Ofori-Atta noted that a committee will soon be put in place to help with the implementation of the initiative and give more details on the areas that will be targeted and supported that will help in stimulating economic growth.

Government intends to raise the amount to invest in areas that will stimulate economic growth and overall development of the country following the devastation of the COVID-19 pandemic.

For 2021, Government plans generate about GH¢72.4 billion in revenue and grants.

It is expected that GH¢55.6 billion will come from taxes.

However, some analysts and tax consultants have raised issues with these policy measures.

Mr Ofori-Atta who was the Minister for Finance during the first term of the Akufo-Addo administration argued that the tax measures are being taken in the short to medium term to quickly stabilise the revenue situation in the country, whiles it working to deal other concerns that have been highlighted by some stakeholders.

He was optimistic that measures outlined in the budget can bring about the needed recovery and deal with the associated shocks of the Covid-19 on the economy.

Speaking at the same programme, Country Senior Partner, Vish Ashiagbor, was optimistic that government will be able to hit its projected economic growth of 5 per cent for the year.

However, the firm’s Tax Partner, Abeiku Gyan-Quansah was worried about some of the tax measures that have been announced in the 2021 Budget.

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