Support government to achieve sustainable macroeconomic stability – Finance Minister

Mr Ken Ofori-Atta, the Minister of Finance, has called on the public to support government in its efforts to achieve macroeconomic stability to ensure economic growth and prosperity.

“We truly need the moral support of everyone in overcoming this challenge as a nation, because we have the elements and the capacity to make it happen,” he said.

Mr Ofori-Atta was speaking at the 8th Edition of the Ghana Economic Forum on the topic: “Sustaining Macroeconomic Stability through the Election Cycles: The 2020 Test Case.”

The one-day event was held under the theme: “Sustaining financial and economic stability; the key priorities.”

The Forum brought together over 300 key business leaders and policy makers to deliberate on how the country could avoid the slippery path of economic slippages in election year 2020.

 It discussed pertinent economic and financial issues and proffered advice to stakeholders on creating a conducive environment for businesses.

Mr Ofori-Atta said participation in economic growth efforts such as the filing of taxes and ensuring that they also played their role in governance was a right step towards economic growth of the country.

He said expenditure control was and would continue to be government’s focus in ensuring a fiscal discipline towards achieving macroeconomic stability.

Mr Ofori-Atta said the key issue for his ministry is a sustained stability and security in capital expenditure and how “we can continue to uphold fiscal discipline and strong policy coordination for the pre-election season.”

 He said the Ministry has been able to do this over the last three years adding that, what they were considering now was how to break the back of over spending during the election year.

Mr Ofori-Atta said though there are pressures of over spending, they have been able to put policy frameworks in place to check expenditure. He expressed concern at the low revenue mobilisation and generation in the country adding that this has put the revenue to GDP ratio at 12 per cent.

Dr Edith Dankwa, CEO, Business and Financial Times, said the forum had proven with its track record over the years that the role of the media was not only to inform, educate and entertain but to set a platform and agenda, where critical thinkers and discerning minds would meet and come out with policies that would develop the country. —GNA