Economist Joe Jackson has little faith in the government’s GHS 100 billion coronavirus alleviation programme.
Speaking on The Big Issue, Mr. Jackson said he did not see the government getting the needed funds from the programme.
“I believe in the intent but it is not the intent we will spend. I don’t see where the money is coming from,” he said.
The GHS 100 billion initiative is known as the COVID-19 Alleviation and Revitalisation of Enterprises Support (CARES).
It is to help the country recover from the economic shocks brought on by the COVID-19 pandemic.
The 42-month scheme, also christened “Obaatan Pa”, is to transform the economy towards massive socio-economic development post-Coronavirus.
Public sector financing is expected to cover 30 percent of the programme whilst 70 percent is to come from the Private sector.
But Mr. Jackson doesn’t see any signs of private support.
“Seventy percent is supposed to be from the private sector. I don’t know where it is coming from. As I sit, I don’t see any private guys queuing up to bring us that GHS 70 billion that we expect.”
Though in 2020, Ghana’s score for ease of doing business increased from 57 in 2016 to 60 growing at an average annual rate of 1.29 percent, he noted that Ghana is also falling behind on the ease of doing business index.
“We are falling behind to Togo who is seven places above us. We are falling behind Cote d’Ivoire. Cote d’Ivoire is 20 places above us.”
For the public sector share, the 30 billion will be obtained primarily by improving tax revenue collection and narrowing the scope of tax exemptions.
But again, Mr. Jackson questioned the capacity of the Ghana Revenue Authority to oversee these revenue gains.
“At this point for the GRA, they are even struggling with what they supposed to do,” he said.