‘Govt Implementing Measures To Reset Economy’

Abena Osei-Asare


Deputy Minister of Finance, Abena Osei-Asare has assured Ghanaians of the government’s effort in implementing a raft of policy measures approved by parliament in the 2023 Budget to reset the economy.

She said that despite the relative stability the government has achieved, it is conscious of the lingering risks.

“We have clarified that the IMF-ECF programme is never a panacea. We are intent on implementing the raft of policy measures Parliament approved in the 2023 Budget to rest the economy,” she said at the Deloitte Ghana 2023 Mid-Year Budget Breakfast Meeting on the theme “Positioning for Sustainable Recovery, Ghana’s Outlook Post-IMF Deal”.

Addressing government announcements about the exchange of about $7.93 billion in securities held by the Ghana COCOBOD and $809 million in domestic bonds and notes held by the Ghana COCOBOD, the Deputy Finance Minister said the measures are to secure sustainable debt levels and move economic growth forward.

She added, “We have taken this painful and difficult path because we know the alternative is unthinkable”.

According to Mrs. Osei-Asare, the government continues to reassess the tools and options for economic recovery and revitalization based on the immediate impact of the interventions of the last seven months.

“As a step forward, we intend to use the Mid-Year Budget next week to drive stability and growth”, she stressed.

As outlined in the Post Covid-19 Programme for Economic Growth (PC-PEG), supported by the IMF, the focus will be on revenue enhancement through administrative and compliance measures.

She added that Ghanaians can expect the Mid-Year Review to provide an update on the implementation of the 2023 Budget so far, a focus on structural reforms to address structural weaknesses and build resilience, rejuvenate the growth agenda towards a more prioritized growth strategy, and safeguard social protection for the vulnerable.

“The Government knows these interventions will be critical to the future of our country and people”, she concluded.

A Business Desk Report