Financial Expert calls for protection of real sector amid prevailing economic challenges

Financial Expert and Lead Executive Coach at Crescendo Consult Ltd, Mrs. Doris Ahiati, has called on the government to prioritize the protection of the real sectors of the economy amid the present economic difficulties.

Speaking at the recent NorvanReports and Economic Governance Platform Twitter Space Conversation titled “Restructuring Of Domestic Bonds, Where Do We Go From Here,” Mrs. Ahiati stressed the importance of safeguarding the real sectors to facilitate the country’s recovery from the prevailing macroeconomic challenges.

Mrs. Ahiati underscored the relevance of Government protecting businesses and creating a conducive environment for their growth as a key driver of economic recovery. She urged the government to place a high premium on shielding businesses, allowing them to thrive and make substantial contributions to the nation’s revenue mobilization through tax payments.

By fostering an enabling environment that promotes business success, the government can foster sustained growth in the real sectors, thereby catalyzing the broader economic recovery efforts.

“We should aim to protect the real sector as that is where our economic recovery will come from,” she opined.

Alongside protecting the real sectors, Mrs. Ahiati advised the government to adhere strictly to expenditure rationalization, particularly given the context of an ongoing IMF programme. She emphasized the need for disciplined management of government expenditure, ensuring that resources are allocated prudently to address critical needs.

By prioritizing essential areas and making judicious spending decisions, the government can optimize resource allocation and mitigate the risk of excessive expenditure that could impede the country’s path to achieving long-term debt sustainability.

Mrs. Ahiati further cautioned that a failure to uphold expenditure rationalization would present significant challenges to the country’s ability to return to a sustainable debt position. Therefore, she urged the government to exercise vigilance in managing expenditure and making sound financial choices, crucial for effectively navigating the current economic landscape.

As the government grapples with the complexities of economic recovery, Mrs. Ahiati’s counsel offers valuable insights on the imperative of safeguarding the real sectors and practicing prudent financial management. These measures are instrumental in fostering a resilient and thriving economy in the face of the ongoing challenges.

Source: Norvanreports