To boost local productive capacity, the government has announced to cut the imports of public sector institutions that rely on imports either for inputs or consumption by 50% and will work with the Ghana Audit Service and the Internal Audit Agency to ensure compliance.
The government will also support the aggressive production of strategic substitutes, including the list disclosed at the President’s last address to the nation by Supporting large-scale agriculture and agribusinesses interventions through the Development Bank Ghana and ADB Bank.
This was announced by the Minister of Finance,Mr.Ken Ofori Atta during presentation of 2023 budget statement at the floor of Parliament.
Mr.Ken Ofori Atta revealed that government will introduce policies for the protection and incubation newly formed domestic industries to allow them to make the goods produced here competitive for local consumption and also for exports.
To promote exports, the government will among others expand our productive capacity in the real sector of the economy and actively encourage the consumption of locally produced rice, poultry, vegetable oil and fruit juices, ceramic tiles among others.
To pursue efficiency in Government expenditures, the government will among others Implement the Government directives on expenditure measures and Integrate public procurement approval processes with GIFMIS to ensure that projects approved are aligned with budget allocation.
There shall be Review in key government programmes to reflect relevance, promote efficiency, and ensure value for money; and Review the efficiency of Statutory Funds.
Source: mybrytfmonline /Kofi Atakora
