Business News of Saturday, 16 March 2013
A three day workshop for regional budget officers and district information officers from the northern sector of the country for the dissemination of the 2013 Budget and Economic Policy is taking place at Akyawkrom near Ejisu in the Ashanti Region.
It is being jointly organized by the Ministries of Finance and Information and Media Relations. The main objective of the workshop is to help participants understand the details of the 2013 Budget and Economic Policy of government.
Addressing the participants, the Chief Director at the Ministry of Finance, Major Retired Mahama Tara explained that the main objective of the 2013 Budget focuses on four pillars, namely, putting people first, a strong and resilient economy, expanding infrastructure and transparent and accountable governance.
He noted that one of the critical challenges that Ghana faces is the need to widen the socio-economic infrastructure base.
This he said can be achieved through the rehabilitation of existing infrastructure and the construction of new ones which will create international competitiveness for indigenous private businesses.
This intervention can also encourage the entrepreneurship of the youth and provide gainful employment for the country’s growing population.
Major Tara said a drawback to Ghana’s transition to a lower middle income country status is that the country will gradually lose a substantial amount of grants and concessional loans that accrue to developing countries.
He added that President Mahama first term will focus on the implementation of programmes that consolidate the country’s fledging middle income status and extend its benefits to current and future generations.
According to him, Ghana is on track to consolidate this new status. He said for instance that the Petroleum Revenue Management Act to direct the use of identifiable oil and gas revenues.
Consequently, the government has been complying with the Act to give meaning to President Mahama’s vision of transparent and accountable government.
The outgoing Ashanti Regional Minister, Samuel Sarpong said the 2013 Budget has been fashioned by the NDC government as a strategy to consolidate the gains made under the Better Ghana Agenda.