Government is taking the necessary steps to put in place safeguards to ensure the macro-economic gains made in the last 21 months are not reversed, Vice President Dr Mahamadu Bawumia has disclosed.
A key component of the measures is the expected passage of a Fiscal Responsibility Law by the end of the year to cap the budget deficit not to exceed 5% for a fiscal year, as well as setting up of regulatory and advisory bodies to guide government’s fiscal and financial sector management.
The Vice President made the disclosure when he addressed the Ghana Investment & Opportunity Summit 2018 in London on Tuesday, 23rd October, 2018.
The two-day summit was organised by the Ghana High Commission in the UK in collaboration with the Ghana Investments Promotion Centre (GIPC).
“Cognizant of the tendency to backtrack on our progress, government is putting in place measures to ensure irreversibility of the gains we have achieved so far. To this end, we are implementing structural measures to tackle some of the long-term structural issues. We intend to urge Parliament to pass, by the end of this year, a Fiscal Responsibility Law, to cap the budget deficit not to exceed 5% for a fiscal year.
“We will also ensure complementary monetary management and establishment of institutional safeguards such as an independent Financial Stability Council, Fiscal Council, and an International Economic Advisory Council.”
According to Vice President Bawumia, “The overarching objective is to safeguard the financial system, deepen financial intermediation, widen financial inclusion and position Ghana as a West Africa Financial hub and economy with greater policy credibility.”
Source: Daily Guide
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Ghanaians are not ***barred word*** as the NPP AND THE SEC AND BOG THINK.... we are fully aware that the government does not care about the consequences of what they have done to Nduom.... Many Ghanaians depended on Nduom and Menzgold etc to feed our families all this while... Till we were deceived by the NPP to vote for them to come and turn our fortunes around.. Little did we know that NPP will stab us in the back with some bogus implementation of wicked policies in the books..... NOW npp has power to kill steal and destroy... But 2020 our time will surely come to exercise our thumb power.... Certainly we would be extremely stupiiiiiiiidddddd not to punish this npp by voting very massively against the npp and making conscious effort for millions people to vote for the ndc... FREE CAMPAIGN FOR THE NDC... AS FOR THE NPP this is the last time they are enjoying this publicity... By 2020 ELECTIONS NPP will know that YOU DON'T STEP ON A ***barred word***'S BALLS TWICE at all... They are going to sniff pepper paaa..... You npp are shamelessly chopping our cash but you've restricted others from earning a decent livelihood....... Everybody affected by the npp vindictiveness should automatically start campaigning very vigorously and subtly for the ndc and against npp immensely and immediately..... Let the SEC AND BOG staff come out in their numbers to vote for the npp in 2020.... NOW people who were earning something every three months from gold Coast securities are going to hurt very very badly because of this wicked npp policy..... Arise Ghanaians arise.... Arise opposition ndc arise..... Let's kick this npp government away in 2020....
Go ahead and introduce. Lie, lie man. We know you. Where are the drones you promised for the distribution of essential drugs? You said they will start work in September. What has happened? Instead of him to be quiet and work, the talks at the least opportunity.
Kw@si@ Vice President
Look at this lying Vice President again. This Bawumia guy is just a liar.