Vice President of the Republic of Ghana, Dr. Mahamudu Bawumia, has asserted that some people are still puzzled by the economic gains chalked by the NPP government.
According to him, some Ghanaians are still at sea as to how government, under the leadership of President Akufo-Addo, has been able to shoot up the economy from 3.6% to 7.9%, despite inheriting a huge financial deficit.
He made this statement while delivering his keynote address at the National Youth Authority’s youth entrepreneurship forum at the Accra Digital Centre.
“People are a little confused that this government can come into office, inherit this big deficit with economic growth at 3.6%, implement 15 tax cuts, introduce Free SHS, restore teacher training allowance, restore nursing training allowance, reduce electricity tariffs and yet grow the economy from 3.6% to 7.9% in the same year”, Dr. Bawumia said.
He also added that 2017 was the year, since 2006, that any government has been able to meet a fiscal deficit target.
“2017 was the first year since 2006 that any government has set a target and been able to meet it and no only meet it but do better than the target in terms of the fiscal deficit. This is what we call good economic management”, he stated.
He affirmed government’s intentions to create the suitable environment for young entrepreneurs to succeed in their business pursuits.
He added: “We will continue to institute measures that will increase confidence in the future directions of the economy. By good financial management and fiscal prudence, and by removing uncertainties about our commitment to build a better economy, our goal is to signal downward trends in inflationary expectations, and encourage downward trends in the monetary policy rate setting and interest rates pricings by commercial banks.”
Dr. Bawumia called on the youth to take advantage of government initiatives such as the National Entrepreneurship and Innovation Plan (NEIP) and funds available to the Ministry of Trade and Industry to provide stimulus package to some selected ailing local business.
“The essence of providing all these direct and indirect services to both start-ups and existing businesses is to equip you to have the required skills to do business and to be successful. I am also inviting you to take keen interest in the key strategic flagship development initiatives of government such as the One District One Factory, One District One Warehouse, One Village One Dam.”
The Summit was organized by the National Youth Authority and the Commonwealth Alliance for Young Entrepreneurs, Ghana chapter to bring young entrepreneurs across Ghana to put issues affecting their activities in business right before government as a partner.
Source: otecfmghana.com
