Prime News Ghana

2023 Budget: Govt's seven-point agenda to tackle economic challenges

By Vincent Ashitey
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Finance Minister Ken Ofori-Atta has said that the 2023 budget is anchored on a seven-point agenda aimed at restoring macro-economic stability and accelerating our economic transformation as articulated in the Post-COVID-19 Programme for Economic Growth (PC-PEG).

These comprise an agenda to Aggressively mobilize domestic revenue; Streamline and rationalise expenditures; Boost local productive capacity; Promote and diversify exports; Protect the poor and vulnerable; Expand digital and climate-responsive physical infrastructure, and Implement structural and public sector reforms.

To achieve these, he said, there are three critical imperatives: successfully negotiating a strong IMF programme; coordinating an equitable debt operation programme; and attracting significant green investments.

This will enable us to generate substantial revenue, create needed fiscal space for the provision of essential public services and facilitate the implementation of the PC-PEG programme to revitalise and transform the economy.

He further stated that events since March 2020 have taught that the pervasive volatility of the world today “and the wisdom in the vision of President Akufo-Addo to reset the Ghanaian economy through industrialization.

“This budget reflects our resolve to reset the economy and restore macroeconomic stability. But, to do so, we need the support of the people of Ghana and the cooperation and approval of this Parliament.

“Our goal now is to significantly enhance revenues, significantly cut down the cost of running government, significantly expand local production, invest more to protect the poor and vulnerable, continue expanding access to good roads, education and health for every Ghanaian everywhere in Ghana and the diaspora.”