National Economic Dialogue begins to bear fruit - President Mahama

The recommendations emanating from the National Economic Dialogue are opening to output affirmative results for the Ghanaian economy, providing the way for the country’s economical growth.

Addressing the federation successful a televised code connected Wednesday to people the Government’s archetypal 120 days successful office, President John Dramani Mahama highlighted the important measurement provided done the dialog successful knowing the authorities of the system and gathering statement connected the way forward.

Convened connected March 3 – 4 astatine the Accra International Conference Centre, the dialog brought unneurotic a wide array of stakeholders; backstage sector, civilian nine organisations, accepted authorities, and academia to deliberate connected revamping the economy.

They gave a broad study and wide recommendations, which aims astatine restoring macroeconomic stableness and boosting assurance successful the section economy.

“The implementation of these recommendations is already underway and is showing promising signs,” President Mahama said.

“The currency is becoming reasonably stable, ostentation is inching downwards, and we person reduced the excessive borrowing that had go a trademark of past governments,” helium added.

President Mahama pointed to the amendment of the Public Financial Management Act 2016 (Act 921) to present a indebtedness regularisation aimed astatine reducing the debt-to-GDP ratio to 45 percent by 2024.

It is besides to found an operational regularisation for an yearly superior surplus of astatine slightest 1.5 percent of GDP.

The amendment, helium emphasised, allowed for the instauration of an autarkic fiscal assembly to show adherence to those rules, which was executed up of the September deadline nether the IMF-supported programme.

President Mahama underscored the value of the sanctions present associated with breaches of fiscal rules, extending work beyond the Minister of Finance to each heads of authorities entities contributing to fiscal slippages.

The National Economic Dialogue besides provided invaluable proposal connected promoting industrialised agriculture and aligning skills improvement with nationalist priorities, areas the President affirmed his authorities was taking seriously.

He highlighted the palmy repeal of the e-levy, the levy connected betting winnings, and the emissions levy, arsenic promised wrong the archetypal 90 days.

He expressed assurance that the continued implementation of the recommendations would pb to a much stable, prosperous, and resilient Ghanaian economy.

The President noted that the stalled efforts to abolish different taxation measures similar the COVID levy was owed to the existing International Monetary Fund (IMF) programme.

Thus, the COVID-19 levy would beryllium included successful the wide VAT rationalisation workout scheduled for September, helium said.