Parliament strengthens its capacity with the Office of Budget and Budget Analysis

Economic news for Monday, February 8, 2021

Source: Business 24

02/08/2021

Speaker of Parliament Alban SK Bagbin said the Chamber will soon operationalize a budget and fiscal analysis office to strengthen its financial oversight activities, as required by the 2016 Public Financial Management (PFM) Law .

Mr. Bagbin was speaking at the opening of a three-day orientation and integration workshop for new MPs in Ada in the Greater Accra region.

“The establishment of the office is in accordance with the PFM law, but more importantly, it was set up in response to numerous complaints from parliamentarians regarding the lack of expertise and relevant information essential to assist members. to question the proposed agreements brought to the Chamber by the government, ”he declared.

Describing the work the office will undertake, he added: “Members don’t have time to spend [the budget], and they do not have the means to put the budget under scrutiny, so we are setting up a budget and fiscal analysis office to undertake these analyzes – not only in relation to the budget, but also others. policy proposals, including international financial agreements submitted to the House. We believe that this will enrich the examination of these proposals and agreements. “

The President also revealed that in line with best practice around the world, a budget law is also being proposed. He said it was a private member’s bill that will soon be before the House for consideration.

In addition, Mr. Bagbin announced that the Department of Budgeting, Policy Planning, Monitoring and Evaluation is nearing completion and fully operationalized.

It will oversee the implementation of the Parliament’s strategic plan for 2020-2024 and report on performance against desired goals and objectives.

The president said the ministry is committed to achieving the goals set out in the plan and will spare no effort to achieve its vision.

Majority leader Osei Kyei-Mensah-Bonsu urged new MPs to familiarize themselves with the rules of parliament and the constitution, adding that it would make them better lawmakers.

Minority leader Haruna Iddrisu assured his side of the House would not be an obstacle to the government of President Akufo-Addo by rejecting all his proposals, bills, contracts or anything that would seek the interests of Ghanaians .

“We should have unanimous action aimed at improving the quality of life of Ghanaians. Ghanaians want parliament to build consensus, ”he said.