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Mid-Year Budget: We are implementing raft of policy measures to reset economy – Government
Government has reassured that it is implementing a raft of policy measures approved by Parliament in the 2023 Budget to reset the economy.
According to a Deputy Minister of Finance, Abena Osei-Asare, the International Monetary Fund – Economic Credit Facility programme is never a panacea.
Speaking at the Deloitte Ghana 2023 Mid-Year Budget Breakfast Meeting on the theme “Positioning for Sustainable Recovery, Ghana’s Outlook Post-IMF Deal”, she said despite the relative stability the government has achieved, it is mindful of the lingering risks.
“Let me assure this gathering that these are the questions and issues that have preoccupied the attention of government and the Ministry of Finance. We have made clear the fact that the IMF-ECF programme is never a panacea. We are intent on implementing the raft of policy measures that were approved by Parliament in the 2023 Budget to rest the economy.”
On July 14, 2023, government announced the exchange of about ¢7.93 billion of securities held through the Ghana COCOBOD and about $809 million dollar-denominated domestic bonds and notes.
The Deputy Finance Minister reiterated the government’s position that these measures are to secure sustainable debt levels and move economic growth forward, adding, “We have taken this painful and difficult pathway because we know the alternative is simply unthinkable”.
Mid-Year Budget to drive stability, growth
Based on the immediate impact of the interventions of the last seven months, Mrs. Osei-Asare said the government continues to re-assess the tools and the options for economic recovery and revitalization.
“As a step forward, we intend to use the opportunity of the Mid-Year Budget to be presented next week to drive stability and growth”, she stressed.
According to her, the focus will be on revenue enhancement through both administrative and compliance measures, fiscal consolidation and structural measures that are outlined in the Post Covid-19 Programme for Economic Growth (PC-PEG) which is supported by the IMF.
She added that Ghanaians can expect the Mid-Year Review provides an update on the implementation of the 2023 Budget so far, a focus on structural reforms to address structural weaknesses and build resilience, rejuvenate the growth agenda towards a more prioritized growth strategy and safeguard social protection for the vulnerable.
“Government is aware that these interventions will be critical to the future of our country and people”, she concluded.
Source: Myjoyonline.com
The Vice President, Naana Jane Opoku-Agyemang, has called for stronger action to promote gender equity and create more opportunities for women in the workplace.
She made the call in a Facebook post after joining staff at the Presidency of Ghana to mark International Women’s Day.
The celebration was held under the theme “From Commitment to Action: Promoting Equity for Every Woman in the Workplace” and focused on recognising the achievements of women while reflecting on the work needed to ensure equal opportunities.
Professor Opoku-Agyemang extended warm wishes to women across Ghana and noted that women have always played key roles in the country’s communities and economic activities.
According to her, women in the past served as healers, traders and queen mothers who contributed to leadership and governance in traditional societies.
She explained that Ghana’s cultural history shows that women have long provided knowledge, leadership and innovation to help develop communities.
The Vice President however noted that current disparities require society to examine systems and structures that may have limited opportunities for women.
She stressed that advancing gender equity will require deliberate actions and the mentoring of young women to prepare them for leadership roles.
Professor Opoku-Agyemang recognised women whose work takes place in markets, streets and small trading spaces across the country.
According to her, these women form the backbone of local economies and continue to demonstrate resilience despite the difficult conditions they face.
She commended women working at the Presidency for their dedication and leadership and reaffirmed the need to promote respect, fairness and opportunity for every woman.
The Vice President further called on both men and women to work together to break barriers and ensure that women can fully contribute to Ghana’s development.
By: Jacob Aggrey
The Diaspora Affairs Office at the Office of the President has hosted a delegation of African diaspora women who are in Ghana ahead of a planned Presidential Conferment of Citizenship ceremony.
The Director of Diaspora Affairs, Kofi Okyere Darko, explained in a Facebook post that the visit was a gesture of appreciation by the delegation to the Government of Ghana for its continued efforts to reconnect Africans in the diaspora with their ancestral homeland.
He indicated that the ceremony, scheduled for next Monday, will officially grant Ghanaian citizenship to members of the delegation as part of the country’s broader engagement with the African diaspora.
The delegation was led by Erica Bennett, Founder of the Diaspora Africa Forum.
According to Mr Okyere Darko, her years of advocacy have played an important role in strengthening ties between Africa and people of African descent living abroad.
He noted that the group’s journey towards citizenship represents not only a legal process but also a cultural and spiritual return to their roots.
Also present at the meeting was Natalie Jackson, an attorney who is also expected to receive Ghanaian citizenship during the ceremony. She works closely with renowned civil rights lawyer Ben Crump.
Mr Okyere Darko emphasised that Ghana remains committed to strengthening relationships with the African diaspora and promoting unity, identity, and shared heritage among people of African descent worldwide.
By: Jacob Aggrey
