The Institute of Statistical Social and Economic Research (ISSER) has raised questions over the availability of funds to implement the Ghana Cares Obaatanpa programme.
According to the economic and research institution, the ¢100 billion target for the programme could be difficult to attain.
At a new news conference on the 2021 Mid-Year Review of the Budget and Economic Policy, Director of ISSER, Professor Quartey hinted that although the programme is a promising one to revive the economy, raising funds to implement it will be a major hurdle.
According to Professor Quartey, the slow pace at which businesses are recovering could hamper progress of the initiative.
Government may certainly struggle because if you look at the budget document presented, there was no clear plan of raising revenue and also looking at how businesses have been struggling in recent times, I wonder how the private sector would be able to raise the 70% of the funds”, he said.
Even the government’s contribution of 30% to the programme is likely to be a challenge, because it has not been able to raise enough tax revenues when you look at the first half of the year. They may be able to raise some funds for the initiative, but I doubt if they’re able to raise the ¢100 billion target”.
The Ghana Cares Obaatanpa programme is a new initiative by the government to stimulate growth of the economy after the adverse effect of the Covid-19 pandemic.
Also, commenting on the new taxes that were introduced in the 2021 budget, Professor Quartey believes there’s the need for an assessment after several months of implementation since they have failed to meet their targets.
ISSER however described the 2021 Mid-Year Budget Review as optimistic.
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