Full text: 2022 budget and economic policy statement presented by Ken Ofori-Atta

Finance Minister Ken Ofori-Atta presents the 2022 national budget on Wednesday 17 November

Right Honorable President, Honorable Members of Parliament, under the authority of HE President Nana Addo Dankwa Akufo-Addo, I request that this august Assembly approve the financial policy of the Government of Ghana for the year ending December 31, 2022.

Under the authority of His Excellency the President, and in accordance with Articles 179 and 180 of the 1992 Constitution, I present to this Assembly the Budget of the President of the Republic of Ghana for the financial year 2022.

I also submit to this Assembly the following statutory reports:

I. the 2021 annual report on petroleum funds, in accordance with section

48 of the Petroleum Revenue Management Act 2011 (Act 815) (as amended) and

ii. the 2021 Report on the Use of African Union Levies in accordance with Section 7 of the African Union Import Levies Act 2017 (Law 952).

Mr. Chairman, this statement is an abridged version of the Government of Ghana’s Budget and Economic Policy Statement for Fiscal Year 2022. I therefore request that the entire Government of Ghana’s Budget Statement and Economic Policy for fiscal year 2022 be recorded in Hansard.

Mr President, exactly 1 year, 8 months and 5 days today, Ghana confirmed its first case of COVID-19. Since then, efforts to contain the virus and its impact on our lives have dominated government actions – not only here in Ghana, but around the world. The Covid-19 pandemic, which has swept the world, has upset and exposed the weaknesses of certain critical structures and systems in the fields of education, health, economic life, communities and daily family life .

The pandemic has triggered a sharp and significant collapse of global supply chains, as lockdowns and restrictions resulted in reductions in demand and production levels. The recovery in demand for goods this year has also created a new inflation problem with the consequent increase in shipping costs, disruption of the global supply chain and exacerbated by rising global fuel prices.

Dorothy H. Lewis