Reduction In Oil Price Will Affect Budget 2015
The reduction in oil prices all over the world will affect the budget 2015 as their will be less annual income to the government.
Major Daniel Sowah Ablorh Quarcoo shared his thoughts that the budget 2015 will be surely affected by the reduction in the oil prices because the annual income that government will get will be less than before.
Major Daniel Sowah Ablorh Quarcoo is the chairman Rtd of the public interest and accountability committee PIAC and he said that though Ghana is not a huge oil producing country but the main annual income that government gets every year is by the mineral oil. The reduction of oil prices in the world market shocked all the oil producing countries. So Ghana is also a oil producing country may be it is not like other countries but the most part of the government annual revenue comes from oil.
The chairman said this when he was addressing at the opening of a panel discussion. He said that the reduction in oil prices is going to affect the budget 2015 because it will affect the national budget of Ghana government.
Many other participants were attending the discussion also like bank of Ghana and Ministry of finance. Moreover, participants from Ghana National Petroleum Corporation were also present in the panel discussion.
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