Pragmatic policies will enhance growth of private sector

Accra, July 8, GNA - A pragmatic national policy framework specifically targeted at stimulating growth in the private sector is an essential ingredient for giving meaning to the government's Golden Age of Business, an Economist said on Tuesday.

Mr Kwabena Oku-Afari, Principal Economist at the Ministry of Finance, said implementation of a set of comprehensive policies that addressed concerns of industry, investment, environment, energy, small and medium scale enterprises (Sees) and entrepreneurship development were key to a successful private sector.

"It is in this direction that government was making every effort to ensure that a conducive environment was created for the private sector to thrive", Mr Oku-Afari said, at a lecture organised by the Institute of Accountancy Training as part of its annual accountancy week. It is on the broad theme: "The Public Sector in the Golden Age of Business." His topic was: "The Golden Age of Business: Pre-Conditions for the Take-off."

Mr Oku-Afari said the establishment of the Ministry of Private Sector Development was an attempt by government to facilitate the development and growth of a competitive private sector to facilitate the Golden Age of Business.

He said government was also pursuing prudent fiscal and monetary policies to maintain stable prices and exchange rates and improve gross reserves to about three months of imports in effort to stimulate the growth of the private sector.