The recently presented 2024 Budget to parliament has stirred a flurry of diverse opinions, ranging from severe criticism labeling it as hollow, to optimistic views hailing it as a forward-thinking blueprint with vast potential.
In a recent interview on Kyzz FM's morning show, Dr. Sampson Anomah, an economist from Kumasi Technical University, offered insights, describing the budget as strategically oriented towards the future.
He emphasized the potential economic impact and food security enhancement linked to the newly introduced mobile land bank, despite lingering concerns about yet-to-be-assimilated taxes.
Dr. Anomah highlighted Ghana's competitive edge in farming due to its extensive available land.
He proposed that leasing these lands for commercial activities could yield substantial benefits for citizens and the nation.
However, he noted the current limitations in farming practices, citing low investment and difficulties in cultivating specific crops as major hurdles.
As a solution, Dr. Anomah recommended fostering collaborations with technologically advanced nations, exploring innovative crop fertilization methods, and encouraging universities to conduct research with scientific bases, leading to implementable journals.
Emphasizing the advantages, he debunked the notion that producing finished products is inherently more competitive than raw materials.
He underscored the potential of agricultural produce such as rice, maize, cassava, yams, and livestock to generate employment, boost GDP, and earn foreign exchange, thereby strengthening the economy's fundamentals.
However, Dr. Anomah cautioned that sustaining such programs requires time but promises significant developmental returns once established.
He expressed concerns about the disruption that could occur if there's a change in administration, potentially derailing the visionary budget's intended goals.
In conclusion, he urged the current government to persist in driving their forward-looking agenda, acknowledging the challenge of continuity in policies due to changing administrations. Nevertheless, he stressed the imperative of relentlessly pursuing economic change."