A deputy Finance Minister, Mona Quartey, has responded to criticisms that the 2015 budget is unrealistic and makes very little provision for growth.

In the 2015 Budget presented to Parliament Wednesday, by the Finance Minister Seth Terkper, government is hoping to raise about Gh¢44 million through taxes and external sources.

There are also plans to embark on some infrastructural projects as well as enhance the tax administration system.

One of the most controversial provisions in the budget is the 17.5 percent VAT imposed on all petroleum products.

Speaking on Morning Starr with host Kafui Dey, on Starr 103.5FM Financial Analyst, Sidney Casely-Hayford said the budget is a clear indication that government has lost its credibility.

“I think this is a totally unrealistic budget. I don’t think that this points to any major future transformation as we are being told.

“I must say that I am disappointed because I was hoping that from the way things are going we will find a lot more innovate ways to be able to stimulate this economy.”

But Quartey strongly disagreed saying the 2015 budget is a very balanced budget which would stabilise the economy.

“It was a balanced budget; it’s a budget that seeks to stabilise the economy so that it can take off in the next phase of its hi-tech oil and gas production.”