Ghana’s Finance Minister predicts positive economic outlook

Dr Kwabena Duffour, Ghana’s Acting Finance and Economic Planning Minister, has given a more positive outlook of the economy, saying the indications point towards sustained growth.

This, he said, was based on the solid foundation laid by the Government over the last four years.

Through its comprehensive programme of fiscal consolidation and macroeconomic stability to address the imbalances inherited from the previous administration, fiscal deficit had come down to sustainable levels.

At the same time inflation had been kept at single digit with international reserves maintained at comfortable levels, added to these is the stabilization of the exchange rate of the domestic currency.

Dr Duffour said his expectation was that there would be tremendous growth to foster investment, create jobs and promote macroeconomic stability.

This was contained in a speech read for him by his Special Advisor, Professor Kusi Newman, at a ceremony to honour him by the Movement for Democratic Ghana (MFDG), pro-democracy group, in Kumasi.

It was in appreciation of Dr Duffuor’s immense contribution to the economic success of the last four years.

The group, in a citation, commended Dr. Duffuor for the achievement of the single digit inflation that had lasted for 30 months and the remarkable improvement in the economy.

“We are enthused about your vision to create a stable economic environment that will allow Ghana to grow.”

“You have implemented fiscal and financial policies that supported the domestic financial system for the growth of businesses”, the citation said.

Mr Michael Ampong, President of the MFDG, said the group would continue to recognize personalities working to bring progress to the nation.

Source: GNA