President Nana Addo Dankwa Akufo-Addo says the days of high public debts, high fiscal deficits, high interest rates, rapidly depreciating currency, erratic power supply, will not be a feature of his government.
According to President Akufo-Addo, his government is determined to continue down the road of fiscal discipline, that has seen a marked improvement and strengthening of the country’s macroeconomy in the last two years.
“Indeed, we will, in this meeting of Parliament, legislate a fiscal rule that will outlaw any attempt by government to generate a fiscal deficit in excess of 5%, in any given year,” he said.
The President continued, “I intend also to establish, shortly, a Presidential Fiscal Advisory Council, composed of reputable economists, which will monitor the performance of fiscal management policy, and advice the President on appropriate measures to be taken to ensure fiscal discipline.”
President Akufo-Addo was speaking at the 7th Association of Ghana Industries (AGI) over the weekend when he made this known.
Addressing the gathering, made of business leaders and captains of industry, the President noted that even though the latest World Bank Index of Doing Business has seen a significant improvement in Ghana’s position, there is still a lot of work to be done to meet the goal of Ghana disposing of the most business friendly environment in Africa, and, indeed, of the world.
“The AGI and government should work hand-in-hand to improve the business environment, and achieve this goal. I would also urge our domestic businesses and industries to aspire towards meeting quality standards for their products and services, in order to be able to integrate easily into global markets,” he said.
President Akufo-Addo also called on all private sector players to demonstrate their commitment to contributing their quota to the transformation of the Ghanaian economy.
“Creating wealth and prosperity for the majority of our people is a shared responsibility. My government is a listening one, and I encourage stakeholders to utilise the public-private dialogue platforms, soon to be institutionalised by government, to address issues of mutual concern in achieving the economic and industrial transformation of our country,” he added.
Source: 3news.com
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This is clearly a vote of no confidence in Bawumia. So sad. Always used and dumped. Pathetic.
And the Council will look at how Zipline is dragging GNPC by the nose to pay them for a drone delivery service we don't need, and they could be investing in health facilities and equipment in remote areas as their true corporate social responsibility which Ghanaians would wan them to deliver?
Rwanda has a 29 member Presidential Advisory Team that constitutes the strategic board of President Paul Kagame. The team is a mix of technologists, financial economists, business gurus successful entrepreneurs, ex presidents and academics. Tony Blair, Michael Porter, Donald Kaberuka and CEO of Starbucks are members.
Another chop, chop group being set up
Bawumia is no more competent eh? Another ***barred word*** idea. pls just produce funds and the job will be get done. Lack of infrastructure and amenities has nothing to do with lack of economist. Kwame Unkrumah achieve alot with zero economist.
If you think that those who questions Nana Addo's leadership skills are NDC then you are making a big mistake. Ghana was there long before you tiives set up those good for nothing NPP and NDC parties I strongly believe that Ghana will succeed if we get rid of NPP and NDC. This democracy is rather creating more problems.
ndc jealousy go kiiiilllll you hahahaha! Comments here so far show how jealous they are and there is nothing stopping the INCORRUPTIBLE SAVIOR NEHEMIAH AKUFO-ADDO from his eight(8) years you read it right eight(8) years so ndc you can go and burn the sea with your INCOMPETENT CREATE LOOT AND SHARE. NDC YAAMUTU, NDC YAAMUTU, NDC YAAMUTU, NDC YAAMUTU
You have lost the right to lead Ghana. This it Mr. President!
We don't need indoctrinatedd economists, we need thinkers! We need wise men and not party loyalists. Nana Addo doesn't even know that the bauxite he's giving away is worth a thousand times what the Chinese are paying him. You think you can take bribess and no one will know?
Another waste! No wonder we keep borrowing byhart!