Business News of Wednesday, 7 November 2018
Government has indicated that the 2019 budget to be delivered by the Minister of Finance on Thursday, November 15 will “bring more relief, hope and improvement in the standard of living of our people”.
The budget is expected to be the first post-IMF budget as the country gets ready to exit the extended credit facility (ECF) entered into in 2015.
Addressing journalists on Wednesday, Minister of Information Kojo Oppong Nkrumah stated that Cabinet completed a review of the budget over the weekend.
“[The budget] will mark the beginning of Ghana’s exit from the IMF programme under which we sought some $900 million over a three-year period.”
He said the Akufo-Addo government intervened in making sure the country did not falter in meeting some key indicators of the International Monetary Fund (IMF).
“We are hopeful of a successful exit.”
He, therefore, announced that Ken Ofori-Atta will on Thursday, November 15 demonstrate to Ghanaians – in Parliament – how the Akufo-Addo administration maintains fiscal discipline, increases liquidity, sustains the heightened economic growth and invests in massive infrastructure “without compromising on our debt sustainability”.
The Ofoase-Ayirebi Member of Parliament added that government will by next year’s budget statement expand credit to the benefit of small and medium-scale enterprises.
He took pride in the first few years of the current government as achieving key economic successes.
For him, there has been a reduced policy rate, reduced inflation, reduced fiscal deficit, improved growth, improved reserves as well as improved credit rating.
Mr Oppong-Nkrumah assured all and sundry that President Nana Addo Dankwa Akufo-Addo is bent on consolidating the gains made.