Minister for Finance, Dr Mohammed Amin Adam has assured that the government will not overspend on this election year.
The Miister said this while inviting the Investor Community to support Ghana’s steady economic recovery, especially as her growth outperforms projections.
He noted that, Ghana was currently the working harder to ease the cost of doing business through pragmatic policies and stakeholder engagements.
The Minister made this known at a side meeting with Rand Merchant Bank Investors at the ongoing 2024 African Development Bank Annual Meetings in Nairobi, Kenya.
He reiterated the Government’ of Ghana’s strong commitment to remain fiscally prudent to stay within expenditure margins this election year.
He noted that part of the motivation for this stance is to satisfy a necessary pre-condition for the success of the country’s engagement with the IMF programme.
“Inflation is trending downwards from 54percent in 2022 to 25percent today and is expected to go to 15percent by the end of the year and as a government, interest rate has also gone down, we are holding the line in this election year so we dont overspend” he disclosed.
According to him, government has initiated deliberate programmes to support the Small and Medium Enterprises, as they provided employment and contributed significantly to the country’s GDP. The support mechanisms, he said included access to finance, market opportunities, digital marketing and managerial expertise.
“The growth we are looking at requires sustainable investment and that is why we continue to count on your esteemed partnership” he added.
The Minister was joined by the 2nd Deputy Governor of the Bank of Ghana, Mrs Elsie Addo Awadzi, Officials of the Ministry of Finance, Bank of Ghana and the Ghana Investment and Infrastructure.
