<\/p>\n
Dr. Said Boakye<\/em><\/strong><\/p>\n THE INSTITUTE of Fiscal Studies (IFS) has called on the government to implement fiscal consolidation strategies which will help the country turn around its economic woes.<\/p>\n Speaking at a press conference in Accra, Senior Research Fellow, Dr. Said Boakye, said the economic management team must take bold measures to ensure the success of the fiscal consolidation strategies.<\/p>\n He said the total expenditure, including arrears payment for 2022, is now estimated at GH\u00a2135.74 billion, compared with the original budget target of GH\u00a2137.53 billion.<\/p>\n Dr. Boakye said Ghanaians should be made aware of the true fundamental causes and enormity of the fiscal challenges the country is facing.<\/p>\n He also called for all stakeholders and socioeconomic constituencies to contribute their quota to the solution process, which should be laid out in a clear strategy.<\/p>\n \u201cSecondly, the government should take the initiative to build adequate political consensus for the fiscal consolidation process.<\/p>\n In this regard, honest dealings and full flow of information about what is happening are essential,\u201d he added.<\/p>\n Dr. Boakye further indicated that political leaders, both in power and opposition, should recognise that failure to put a halt to the worsening macro environment will lead to enormous economic pains for all.<\/p>\n He, however, said that though the government has sought the support of the International Monetary Fund (IMF) to help address the fast-deteriorating macro environment, the IMF\u2019s support and its success will depend upon the government\u2019s own strategies and efforts.<\/p>\n He, therefore, asked the government to act swiftly in order not to plunge the economy into \u201ca point of difficult return as is happening to the Lebanese and Sri Lankan economies.\u201d<\/p>\n BY Ebenezer k. Amponsah<\/strong><\/p>\n \n\t<\/div>\n","protected":false},"excerpt":{"rendered":" Dr. Said Boakye THE INSTITUTE of Fiscal Studies (IFS) has called on the government to implement fiscal consolidation strategies which will help the country turn around its economic woes. Speaking at a press conference in Accra, Senior Research Fellow, Dr. Said Boakye, said the economic management team must take bold measures to ensure the success […]<\/p>\n","protected":false},"author":1,"featured_media":1182573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[13404,3010,3367,1925,23739,1919],"class_list":["post-1182571","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-consolidation","tag-economic","tag-fiscal","tag-gains","tag-ifs","tag-improve"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1182571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1182571"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1182571\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1182571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1182571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1182571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}