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Business News of Wednesday, 7 March 2018

Source: citifmonline.com

We’ve restored fiscal discipline - Akufo-Addo

President Akufo-Addo has reiterated that the fiscal discipline regime being embarked upon by the government is already yielding some good results for the country.

According to him, major macroeconomic figures are beginning to show positive trends while, the fiscal deficit is reducing.

Speaking at the 61st Independence Day celebration in Accra, President Akufo-Addo maintained that fiscal discipline has now being restored in the country.

“We have started on the right path with the concrete steps we are taking to restore macro-economic stability and economic growth. After a year of disciplined and innovative economic management, the results have been remarkable,” he said.

He added that “Fiscal discipline has been restored and fiscal consolidation has taken hold. For the first time since 2006, the government of Ghana has been able to meet its fiscal deficit target.

He assured that government will continue to implement economic policies that will anchor on prudent use of the country’s resources.

President Akufo-Addo pointed out that government will surely achieve its “Ghana Beyond Aid” agenda as it pursues sound economic policies to improve the livelihood of Ghanaians

“We will continue to manage the economy in a disciplined and sound framework so that we maintain fiscal and debt sustainability. This in the long run is fundamental to moving Beyond Aid”.

“To get to a Ghana Beyond Aid, we will have to effectively harness our own resources and creatively and efficiently deploy them for rapid economic and social transformation,” he added.

Touching on the need to equip the private sector, President Akufo-Addo observed that the government has created the enabling environment for businesses by reducing taxes and utility tariffs, as well as providing stimulus package for distress companies.