Business News of Wednesday, 7 November 2018
Cabinet has reviewed the economic policies of government and budget for 2019.
Information Minister Kojo Oppong Nkrumah who disclosed this at a Press briefing in Accra on Wednesday 7th November, 2018 said the budget is the third economic document of the Akufo-Addo administration and the first which will not be under the supervision of the International Monetary Fund (IMF).
“The 2019 budget will mark the beginning of Ghana’s exit from the IMF program under which we sought almost 918 Million Dollars, over three years with conditions attached,” he said.
Oppong Nkrumah revealed that the current administration tirelessly raced to correct slippages from set targets under the program in the first two years.
“The improved Macro environment is evinced by the reduced Policy rate, reduced inflation, reduced fiscal deficit, improved growth, improved reserves and improved credit ratings,” he disclosed.
He further added that the administration has made achievements in implementing enormous social interventions in the country which includes the Free SHS program, expanded school feeding program and initiatives such as the Planting for Food and Jobs.
He also announced that the 2019 budget is designed to bring more relief, hope and improvement in the standard of living of Ghanaians. The Minister said some of the targets government seeks to achieve after the successful exit of the IMF program includes maintaining the fiscal discipline, increase liquidity in the Ghanaian economy, sustain the heightened growth which has been restored as well as invest in massive infrastructure without compromising on debt sustainability.