Economist urges Ghana to stay within budget expenditure limits as election nears

Dr Joseph S.L. Abbey, an economist and also the Executive Director of the Centre for Policy Analysis (CEPA), has urged the Ghana government to maintain strict fiscal discipline and avoid expenditure overruns that had become a ritual in the election year.

He said everything must be done to ensure that the macro-economic stability achieved was not disturbed.

Ghanaians would not like to experience any dislocation of the economy as a result of the December general election.

Dr Abbey was addressing a three-day national council strategic workshop of the Association of Ghana Industries (AGI) held in Kumasi.

“Achieving industrial growth – Challenges and strategies” was the theme and it brought together captains of industry drawn from across the country.

Dr Abbey encouraged small and medium enterprises (SMEs) to stick to best practices to able them to achieve high levels of efficiency.

This, he said, was the only way they could become competitive and expand their businesses to anchor national economic growth.

He touched on the high interest rate charged by the banks and said there was the need to tackle head-on, the fundamental factors underlying that phenomenon.

He invited the AGI to design common platforms for both private and public debate and discussions on how to support industrial development.

Mr Samuel Amponsah, a Director at the Ashanti Regional Coordinating Council, said the Council would continue to create the right environment to promote businesses in the Region.

He praised the AGI for its efforts at enhancing industrial growth and creating job opportunities for people.

The National President of the Association, Nana Owusu Afari urged the members to continue working hard and also fulfill their tax obligations to enable the government to generate more revenue to bring development to the people.

Source: GNA