Home / GENERAL NEWS / The Holes In The 2024 Budget, From An Nkrumaist Perspective, Osei Kofi Acquah The National Youth Organizer Writes…

The Holes In The 2024 Budget, From An Nkrumaist Perspective, Osei Kofi Acquah The National Youth Organizer Writes…

The 2024 budget is nothing but an Imperialist directed budget

Ken Ofori Atta the Finance minister begins to read the budget by admiting that the 2024 budget was prepared by following the IMF backed which I believe he wanted to say Instructed directive called the PC-PEG.

Now On May 17 2023 the IMF through a Staff agreement with Ghana’s ministry of Finance staff, to grant Ghana an Extended credit Facility (E.C.F ) with with the condition that Ghana accepts a program they the IMF have design which they call PC-PEG

This PC-PEG simply means Post Covid Program for Economic Growth.

Now looking at this design program for a lame man’s point of view may decieve you to think that, this is a good program for Ghana, but it is not.
The two key leg of the PC-PEG are to supposedly Enhanced revenue and streamlined expenditure

Now let’s break them down.

To enchance Revenue means to find means to collect more revenues from you and I who are already burdened with taxes.

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So in his statement the finance minister stressed this by say that the finance ministry is going to embark on aggressive Revenue mobilization.

The question we the CPP should ask them is that, haven’t we the Ghanaian taxe payer already paid taxes and enchance Revenue mobilization through the payment of the Covid Levy even though we don’t have Covid?

What about the universal payment of Sanitation even though we still make payments to the Garbage collecting companies

Did we not accept to pay the E-Levy they imposed on us?

Did we not yield in to the adjustment of VAT from 12.5% to 15.0%.?
So what happened to all the Revenue that were mobilized from the afforementioned? Why does this government wants to burden we the tax payer the more?

To Streamlined Expenditure, the IMF is monitoring the expenditure of the government of Ghana, to synchronize what they deem urgent, important and necessary.

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This means that the IMF will determine which project being sponsored by government gets disbursement at what giving time.

This manifested itself the 2024 budget when Ken Ofori Atta said that the government of Ghana is going to Rationalize its Expenditure

This is why most contractors working on our roads have abandon site.

The road under construction in your region, town, area or hometown will not be fixed any moment soon because government doesn’t have money.

This means local contractors, local suppliers, labourers and many others who makes up and Enchance the domestic economy (Local economy) are going to be “liquidly trapped”
Which is going to make life unbearable for the ordinary Ghanaian.


Agriculture grew by 6.3% Industry grew by -2.2 and Services also by 6.3%.

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Now this vindicate the CPP and many Nkrumaist like myself who argued that investment in Agriculture is good business and so government as part of it’s own Flagship program Planting For Supposed Food Jobs and Rearing for Food and Jobs which reconsider the CPP’S policy of State Farming and target the foreign market?

Now Let’s break it down.
State Farming is the situation where government goes into large scale farming on behalf of the people of Ghana to feed and make money for the people of Ghana.

In 2016, the flagbeaerer for the Convention Peoples Party Comrade Ivor Kobina GreenStreet Esq told Ghanaians that all our Natural resources like Gold, oil, Cocoa etc have all been mortgage, and so there is the need for government to think outside the box by exploring avenues to generate revenue to cushion our economy.

Lawyer Ivor Kobina GreenStreet Esq therefore proposed the farming of Almond in large scale state sponsored farming.

Many laughed without asking him to share his research with them.

The States of California in the United States of America alone through its farmers raked in $3.9 billion in revenue from Almond fruit between 211 and 2012.

Is it not the same $3billion dollars facility we are begging from the IMF, which has led to never ending Debt Restructuring, which has results in all forms of “Haircuts” and untold hardship on Ghanaians?

We the CPP still believe State Farming Almond, Rubber, Teak tress among others will not only create jobs outside the chocked job basket but also earn us enough Forex to pay our debts, shore up our International Reserves and build our Consolidated funds kitty

The Growth of -2.2 in our Industrial Sector which is an embarrassment on us as Ghanaians and exposes us of still running A Gurggisberg Economy

This also begs these questions from the CPP to Government.

First where are our one District, One Factory? What are they producing? How much Revenue is being generated? What is the contribution of the Realizes Revenue to the GDP of our Economy?

Again when government decided to lobby external investors to open businesses in Ghana, how did they supported the local investor who is a competitive?

For example, how much was giving to Katanka automobile when other automobile companies or investors who already have billions as Capital were being invited to compete with them in the same market?

Again, why were most of the factories which produced On-Demand goods and Still-on-Demand goods built by CPP government not considered and made part of the One District One Factory?

The Service industry also did *6.3%* in Revenue Generation in 2023,
Portraying that the Ghanaian tax payer did their best to give what is due government.

The CPP believes that there are thousands of able bodies in our Youthful population as a country who are willing to work to boost our economic growth in the Service sector.


Hon Ken Ofori Atta mention a Tax waiver for electric Cars and electric car parts.

This well calculated “Mischief” is a smack on the face of Ghanains and begs a question to Mr Ofori Atta.

First of all CPP members like myself want to know how many of the State vehicles at the Presidency are electric vehicles?

Again how many of the vehicles in the Ministries including the ministry of Finance and the District assemblies in the country are electric vehicles?

Again we members of the CPP want to know how many of the State Commercial vehicles from STC to Metro Mass vehicles uses electricity.

Again members of the CPP like myself want to know if Mr Ken Ofori Atta found out from the GPRTU – TUC how many of their vehicles are using electricity?

How about the Commercial Transport Owners Association?

This deciet of a tax waiver will not bring any Ghanaian financial relieve.

Again the Akuffo Addo Led government which promised to reduce inflation when voted into power took inflation from 17.15 % to over 50%, and when due to lack of liquidity in the system dropped to 31.26% brags of reducing the inflation further to 15%

We want to know how government intends to do that, especially now that the state is not manufacturing anything.

Again the government and a large extension the finance minister should be reminded that, they have lost their Regulatory power!
The 2024 Budget is nothing But an Imperialist Backed Crucifixion of the Ghanaian Budget

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