By: Edzorna Francis Mensah
The Minister of Finance Ken Ofori-Atta has given himself a higher mark when he told Parliament that it has been seven years of “grace and positive impactful”, economics performance under his watch.
According to him, they are determined to do more to boost the capacity of the private sector to expand productivity and create jobs with the 2024 budget and the economy policy statement for the year ending 31st December, 2023.
Recounting what he referred to as “positive impact”, in the past 7 years, has to do with about investing a total of GH¢32.7 billion to stabilize the energy sector to support the growth of businesses as well as investing GH¢25.3 billion to facilitate the repositioning of the financial sector and enhance its ability to assist business operations.
He said, to date, “…Bank Ghana has facilitated GH¢1 billion in competitive financing for the private sector, and GIRSAL continues to mitigate risks in the agriculture sector; Supported 100,000 young graduates to secure workplace experience and employment by investing GH¢2.4 billion in NABCO; Invested GH¢7.1 billion to build road and transport infrastructure to improve connectivity and productivity”.
He also mentioned the fact that, Government has also, under the period invested GH¢541.5 million in 169 1D1F enterprises to scale-up value addition and provided 140,000 additional jobs; and created over 2.3 million jobs in the private and public sectors (approximately 900,000 in the private sector and 1.4 million in the public sector).
Mr. Ofori-Atta also asserted that, capital spending is equally important to the future of Ghana, hence the mobilization and deployment of some resources to:
Expand the railway network, including connecting Tema to Mpakadan to promote trade on the Eastern Corridor; Construct 12 fish landing sites and two (2) fishing harbours at a cost of
GH¢19.5 million to promote the fishery-based livelihoods of our coastal folks; Improve community infrastructure by investing GH¢2.2 billion into over
2,000 projects under the IPEP initiative and the Promotion of the inner city development by spending GH¢190.3 million under the
Zongo Development Fund; and the expanded and improved the road network by investing about GH¢16 billion.
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