The President of the Republic of Ghana H.E Nana Addo Dankwa Akuffo-Addo has revealed that the fiscal measures outlined during the presentation of the 2023 budget by the finance minister will help address the current economic challenges in the country.
In an address read during the celebration of the 38th National Farmer’s Day Anniversary at Koforidua in the Eastern region, the President said the introduction of key public expenditure measures demonstrate government’s burden sharing in addressing the economy challenges facing us as a country.
He said “It ranges from reducing fuel allocation, the size of convoys, the suspension of the creation of new government agencies, a ban on the use of V8 vehicles are expected to reduce spending towards fiscal sustainability, I am optimistic that all these fiscal measures together with the debt operations and the implementation of key structural reforms to eliminated the structural bottomless in the economy outlined in the 2023 budget will go a long way to address the economic challenges”.
The President therefore called on all Ghanaians in this economic hard times to support the fiscal measures proposed to parliament by the government to enable the it achieve a goal of restoring micro economic stability and to promote Inclusive growth whilst protecting the poor.
Additionally, the President called on Organize Labour to collaborate with government to bring finality to the ongoing salary negotiations.
“I would like to use this special occasion to make a special appeal to Organize Labour which has proved to be a principal allied of my government in all collective effort over these last six years to build a strong Ghanaian economy to continue it dialogue with the special partners to find rapidly and acceptable solution to the ongoing salary negotiations, a solution which is realistic and fair”.
The President also hinted on the need for the country to embark on a strong revenue mobilization by increasing our tax to GDP above the 18% target outlined in the budget to build the country by ourselves.
“Ghana as the second largest economy in west Africa but one with the lowest tax to GDP ratio of some 12% within the context of an average of 18% in the country’s of the ECOWAS region, it is absolutely essential for our future , we ought to realize our goal of a Ghana beyond aid that we make rapid strive to meet the 18% or even higher target inorder to strengthen our self reliance and our capacity to finance our own development” the President added.
Source: Mybrytnewsroom.com/Obed Ansah
