Government is taking the necessary steps to put in place safeguards to ensure the macro-economic gains made in the last 21 months are not reversed, Vice President Bawumia has disclosed.
A key component of the measures is the expected passage, by the end of the year, of a Fiscal Responsibility Law to cap the budget deficit not to exceed 5% for a fiscal year, as well as setting up of regulatory and advisory bodies to guide government’s fiscal and financial sector management.
The Vice President of the Republic made the disclosure when he addressed the Ghana Investment & Opportunity Summit 2018 in London on Tuesday 23rd October, 2018.
The two-day Summit is being organised by the Ghana High Commission in the UK, in collaboration with the Ghana Investments Promotion Centre (GIPC).
“Cognizant of the tendency to backtrack on our progress, Government is putting in place measures to ensure irreversibility of the gains we have achieved so far. To this end, we are implementing structural measures to tackle some of the long-term structural issues. We intend to urge Parliament to pass, by the end of this year, a Fiscal Responsibility law to cap the budget deficit not to exceed 5% for a fiscal year.
“We will also ensure complementary monetary management and establishment of institutional safeguards such as an independent Financial Stability Council, Fiscal Council, and an International Economic Advisory Council.”
“The overarching objective,” according to Vice President Bawumia, “is to safeguard the financial system, deepen financial intermediation, widen financial inclusion, and position Ghana as a West Africa Financial hub and economy with greater policy credibility.”
Source: Peacefmonline.com/Ghana
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Yes, they get noko fio to do this things...they are same as la zy pay masters who rob the masses. Deep in their hearts they understand what's going on but for the whole system to crumble so they can be paid GHS 50 and GHS 100 ...they are happy be on social media throwing propaganda to confuse people. Nation wreckers...
Eii, Students of Democratic Ideology Institute (J.A, Afrifa, and Dennis). you guys have tall mountain to climb. your party (NDC) has commissioned you to rubbish any good thing coming from Nana Addo and Dr. Bawumia. You are always on facebook, peacefmonline, ghanaweb and other networks.
WE THE FLOTED VOTERS DONT UNDERSTAND THIS MATHEMATICS NPP IS SAYING THAT NDC LEFT DEBT NPP SAID THEY ARE PAYING THE DEBT BUT OUR DEBT IS STILL GOING UP TO ADD 50 BILLION. POLITICIANS ARE NOT TRUST WORTHY WE THE FOLLOWERS TOO SHOULD KNOW THAT THE IS JUDGEMENT FROM GOD AWAIT US. PRESIDENT THINGS ARE BECOMING HARDER AND HARDER. GAS, FUEL, TRANSPORT FAIR, RENT, DOLLAR, FOOD STUFF HAVE ALL GONE UP. PLS WHAT OF WE THAT DONT BENEFIT FROM FREE SHS WE SHOULD BE GIVEN OUR SHARE OF THE MONEY . BAWUMIA WHERE IS THE GAIN WHEN PRES ADDO HAVE ADMITED TIMES ARE HARD.
I wonder who takes this guy serious! If I were him, I will not talk or make any public appearance until NPP, vanishes from the scene. All his credibility has been put asunder. When economy of any nation improves or show gains, the people feel in their pockets and in their bank accounts. Today, everyone is experiencing untold hardships, so where is the gains you are going to protect? We don't take you serious anymore Mr. Bawumia! Give us a break so we can think of how to put food on table for our families.
Can you please help spell out his job responsibilities for us all to know, since you employed him......i think you just commented without reading, if you did too then you need FREE SHS....or better still if not read then read again you'll know HE is working... and not talking
Big Brains at work!
There he goes again liar. This guy will just not stop lying about everything and stop the plenty empty talks and get serious on the job. Empty barrels makes the most noise