ACCRA – Ghana Wants Introduce Robust Fiscal Policies. Ghana decides to not give-up in follow-up fiscal discipline in public finance administration regardless the expiration of from the support program of International Monetary Fund (IMF), Vice President Dr. Mahamudu Bawumia reaffirm the government politic fiscal line on Thursday.
During three positive years of Extended Credit Support (ECF) support program in collaboration with the IMF, which corporation will ends by specifically in March 2019. The creditor praised Ghana a week before for efforts made to reinstate macroeconomic stability after the three-year bailout package after the economic chaos in 2016.
Nevertheless, investors expressed anxiety in the past years for their investment, Ghana bounces back and rejuvenate economically, and the government wants to keep up this dynamic effect with the private even after the IMF program will end.
Speaking at U.S.-Ghana Business Forum knows as the Maiden, Dr. Mahamudu Bawumia, the Vice-President of the Republic of Ghana explained clearly that one of the ways the authorities intended to anchor fiscal discipline in the country he proposed the Fiscal Responsibility Act to be passed very soon.
“But let me assure you that we are committed to maintaining fiscal discipline for our own sake,” the vice president affirm firmly to the audience.
Concretely the VP said, the government is ready to carry out some special structural enforcement to attack corruption and long-term structural and technical challenge in Ghana economic system.
Under the pressure of the deficit budget law proposition Dr. Mahamudu Bawumia anticipated by announcing that 5 percent for a fiscal year to cure the debt problem, to Gross Domestic Product – GDP ratio through a sovereign Fiscal Responsibility Council that he also merge to supervise the implementation of fiscal policy in the country.
This was one an important strategic reason revealed by Dr. Mahamudu Bawumia to the public which carries the ambition to correct what supposed to be done and boost an investment environment in Ghana to attract more capital more foreign investors to doing business in the country.
Remembered that fiscal deficit jumped up to about 90 percent during the election year of 2016 after the government had entered into an IMF program in 2015 aimed between other things to make sure fiscal discipline.
The question we are asking now does Ghana government will be capable to deliver, this potential because many things still need to be done in a way to tackle the corruption culture in Ghana.
Anyway, the population took note and we expect that Dr. Mahamudu Bawumia will honor is words.
