James Avedzi
James Avedzi

Chairman of Parliament’s Finance Committee, James Avedzi, says recommendations by the International Monetary Fund (IMF) were factored in Thursday’s budget and economic policy for 2015.

Mr Avedzi’s comment is in reaction to another member on the Committee’s assertion to the contrary.

Dr. Assibey Yeboah had said the budget would not have the IMF’s input because negotiations are yet to be concluded.

But Mr. Avedzi told Joy Business “I can tell you point blank that most of the things contained in the budget are agreements reached by IMF”.

He maintains that negotiations have concluded on some sectors, countering the view that because negotiations with the IMF have not concluded the 2015 budget could not have contained the Fund’s input.

“In some areas negotiations have been concluded. In some areas negotiations have not concluded that is why they cannot come out with a [complete Fund] programme yet”, he said.

He said the newly passed 17.5% tax on petroleum products is one such policy influenced by the IMF.

Another member of the committee, Anthony Akoto-Osei, also told Joy Business he is not in doubt that the 2015 Budget contained IMF input.

According to him although government said the 2015 is aimed at stimulating growth, that is not the case.

“Government does not want to stimulate growth because it is projecting growth at 3.9 percent, down from 4.7 percent this year. But how can you transform (the economy) when you are going from 4.7 to 3.9 percent. Its inconsistent”, he said.

Source: Joy FM