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Sun, Sep

ECONOMY ON SAFE GROUND: HOUSE FINANCE CHAIRMAN

Business & Economy

The Chairman of the Finance Committee of Parliament, Dr. Mark Assibey-Yeboah, has assured the public that the Akufo-Addo government is doing all it can to put the economy on safe ground. This, he says, will ensure that whichever government is in power will be enabled to add its bit to the agenda of development.

The Chairman of the Finance Committee of Parliament, Dr. Mark Assibey-Yeboah, has assured the public that the Akufo-Addo government is doing all it can to put the economy on safe ground. This, he says, will ensure that whichever government is in power will be enabled to add its bit to the agenda of development.

 

Referring to the National Democratic Congress’s legacy of poor economic management, he said the right thing to do to give governance a true continuity is keep to the principles of selflessness and competence when entrusted with the state purse.

Dr. Assibey-Yeboah made the comment when he kick-started the debate on the 2019 Budget in Parliament yesterday.

Sound policies

The New Juaben South Member of Parliament stressed that, due to prudent economic management on the part of the Akufo Addo administration, the first ever Eurobond deal in the sub-Saharan Africa issued by the government had the largest patronage, as well as the largest maturity period with the lowest pricing.

He also told the House that due to sound economic policies the government had been implementing, the country is exiting the International Monetary Fund programme by the close of this year.

He said if Ghana should ever go to the IMF again, it should be for the right and not wrong reasons.

Gains

According to the Chairman of the Finance Committee, virtually all the promises made in the 2016 manifesto of the NPP are being materialised through macro-economic stability, sound fiscal policies and pragmatic initiatives for social interventions.

On the significant achievements of the NPP, Dr. Assibey-Yeboah stated that while the NDC left a GDP of 3.7%, the NPP, through prudent economic management, has moved it to a significant 5.4%.

He expressed the hope that in the unlikely event of the NDC coming to power, it would not reverse the gains, but rather add on to ensure that the economy grows stronger.

Turnaround

Dr Assibey-Yeboah pointed out that due to the competence of the NPP government, it did not hesitate to shift from taxation to production in solving the myriad of economic woes facing the nation.

He was optimistic that if the NPP government continued to go on the same tangent, Ghanaians would by 2020 see a massive turnaround in their economic circumstances for good. He assured the public that the government would make every effort to deliver on the massive infrastructure programme spread across the length and breadth of the country as outlined in the 2019 budget.

Competence

He took the opportunity to praise the Bank of Ghana for recruiting the best brains in economic management to help clean up the mess in the banking sector.

The Chairman of the Finance Committee of Parliament teased the opposition NDC MPs to mention just one name of their Economic Management Team during while in government.

He described the government's Economic Management Team lead by Vice President Mahamudu Bawumia as a group that is safely managing the economy of the country.

On his part, the Minister for Information, Kojo Oppong Nkrumah, reminded the House that, not too long ago, the fundamentals of the Ghanaian economy was wobbly. Today, however, he said, the government is reducing hardship on the part of parents through the introduction of the Free SHS Policy.

"Today, we have succeeded in cleaning the muddy waters. Today, we have succeeded in stabililising the macro-economic environment," Kojo Oppong Nkrumah said.


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