Professor Peter Quartey is the Director at ISSER
• Prof Quartey of the ISSER has questioned the availability of revenue for the Ghana Cares Obaatanpa programme
• He said the pandemic could make the process slow
• The GH¢100 billion project is expected to boost the economy and create more jobs after COVID-19
The Institute of Statistical Social and Economic Research (ISSER) has raised concerns about the realisation of the Ghana CARES (Obaatan pa) programme.
The post-COVID-19 project estimated at GH¢100 billion, according to government, seeks to stabilize, revitalize and transform Ghana’s economy to create jobs and prosperity for Ghanaians over a three-year period.
Government has reiterated that it would contribute 30% while it relies on the private sector to raise 70% of the funds needed.
The Director of the Institute, Professor Peter Quartey, although lauded the initiative by the government predicted that it will be a tough one considering how businesses have been badly hit by the pandemic.
“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”, Joy News quoted.
The Proffessor added that, “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 will be able to raise the ¢100 billion target”.
Describing the 2021 Mid-Year Budget Review as practicable, Professor Quartey emphasised the need for government to re-assess newly introduced taxes. The reason, he noted, was that targets have not been met since its implementation some months ago.
He was speaking on the 2021 Mid-Year Review of the Budget and Economic Policy held on Tuesday, August 3, 2021.