Government should revise estimates of budget-Ato Forson

Deputy Minister of Finance Ato Forson says government's projections in the budget statement presented in November last year were thrown off because of the fall in the price of crude oil on the international market.

Speaking on GBC's Current Affairs programme "Talking Point," Mr Forson said with Ghana being a net importer of crude oil, it is necessary for government to revise its estimates in the budget hence the need to go back to Parliament with new estimates.

The NPP MP for Obuasi West and a member of the Parliamentary Select Committee on Finance Kwaku Kwarteng said government must come clear on the revised budget.

He said when prices of crude oil begun to fall, government failed to reduce the price of the product at the pumps with the excuse of paying the Bulk Distribution Companies.

However government has not come out as to how much has been accrued from the savings.

A Financial Analyst, Sidney Casely Hayford said government should have anticipated the fall in crude oil prices before making the projections in the 2015 budget.

Those were view of panelists on GBC's Current Affairs programme Talking Point which discussed the 2015 revised budget statement.

GBC