Ken Ofori-Atta addressing the stakeholders
Finance Minister Ken Ofori-Atta has stated that Ghana does not intend to extend its Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF).
Mr Ofori-Atta, who was speaking at a stakeholders’ forum in Kumasi to consider their inputs into the 2019 Budget, said government, which is committed to strengthening current structural reforms, has developed strategies to ensure discipline.
The engagement with the economic stakeholders, who included traditional leaders, members of the Association of Ghana Industries, trade groups, market women’s associations, spare parts dealers, road contractors, civil society groups, faith groups and persons with disability, is in compliance with the Public Financial Management Act 2016 (Act 921).
It was aimed at improving good governance through better transparency and proper accountability to the citizenry.
Mr. Ofori Atta called on them to “contribute in keeping the economy on track by honouring their tax obligations.”
The minister reiterated government’s commitment to the private sector through the lowering of interest rates.
“The results of our fiscal discipline are already showing. Inflation is on a downward trend; interest rates are declining and we are getting value for money for our projects,” he said.
Mr. Ofori-Atta disclosed that “our focus for next year budget will include infrastructure, industrialisation and liquidity of the banks and expanding the MASLOC Scheme to benefit more Ghanaians.”
He said government was making full commitments to the free Secondary School and School Feeding Programmes, adding that “restoring credibility in these commitments has been one of our key success stories as a government.”
He said government had supported efforts at reducing unemployment by putting 100,000 young graduates to work through the Nation Builders Corps (NABCO).
During the open forum, the stakeholders appealed to government to consider fixing more deplorable roads in the next budget and reduce taxes to support the private sector.
A business desk report