In a time when the young and enterprising minds of Ghana crave hope and inspiration, the Mid-Year Review Budget for 2024 has left us feeling uninspired and burdened. This review, presented by Dr. Mohammed Amin Adam, Finance Minister, under the administration of His Excellency President Nana Akufo-Addo, has missed a crucial opportunity to uplift the spirits of the nation, particularly the youth and business community.
For young Ghanaians, the economic landscape painted by this budget is one of gloom and despair. The rising cost of living, exacerbated by the government’s mounting debt, makes everyday survival increasingly difficult. Many of us, with dreams of a brighter future, find ourselves cornered into seeking opportunities abroad. This mass exodus of the youth, driven by hopelessness, is a stark indicator of a failed economic policy.
Businesses, both fledgling and established, are feeling the strain more than ever. The tax burden imposed by this government is stifling innovation and growth. Entrepreneurs, who are the backbone of our economy, are finding it harder to operate, let alone expand. Ghana, once a promising hub for business, now seems unattractive and hostile to investment.
The essence of a mid-year budget review is to provide a course correction, to offer hope, and to present a vision that can rally the nation towards a better future. Unfortunately, this review has done none of that. Instead, it has reaffirmed the bleak status quo, with no tangible measures to ease the financial strain on citizens or to stimulate economic activity.
The government’s preoccupation with managing debt has overshadowed its duty to inspire and uplift its people. The Mid-Year Review Budget 2024 feels less like a strategic plan for progress and more like a bureaucratic formality, devoid of any real solutions to our pressing issues.
As young people and business owners, we are deeply disappointed. We had hoped for policies that would reduce our tax burden, create jobs, and make Ghana a more attractive place for both local and international businesses. Instead, we are left with a sense of hopelessness and the unsettling realization that our leaders have lost touch with the realities faced by everyday Ghanaians.
This budget review, although constitutionally necessary, seems like a wasted opportunity and an exercise in futility. It is a reminder that our leaders must do more than just manage the country’s finances; they must inspire confidence and provide a clear path forward. Without this, the future looks bleak for the young and enterprising people of Ghana.
Kofi Asante Mensah
Convener
*Gen Z & X Ghana*
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0302965325
