National Economic Dialogue Will Help Reset Our Economy to the Path of Prosperity-Finance Minister

The Minister for Finance and Economic Planning, Dr. Cassiel Ato Forson has stressed that the ongoing National Economic Dialogue (NED) will help reset Ghana’s Economy to the path of prosperity.

He said there is no doubt that the NED, which is happening exactly 10 years since the Senche Accord wi be a game changer in our quest to achieve positive economic trajectory.

The Finance Minister was speaking at the Opening ceremony of NED held at the Accra International Conference Centre (AICC) in Accra on Monday.

“Today we set to attempt to resolve economic puzzle of much greater magnitude than what confronted us ten years ago”, Dr. Ato Forson Said.

He was optimistic that the panel discussions will serve as a guide for the government not to repeat mistakes of recent past.

The Finance Minister later emphasized that reduction of government size from 123 of previous government to 60 by Mahama’s government and embargo on first class travel by government officials are actions towards “our ongoing journey toward fiscal disciplines”.

Pointing out the real state of the nation, Dr. Casiel revealed that Cocoa poses a significant fiscal risk adding that production recorded 50% drop over the past 3 years.

He said this resulted in revenue loss of $840 million for both COCOBOD and Ghanaian farmer with additional $495 million losses for roll over contracts.

On the wayfoward the Finance Minister said the economy can be reset through enhancing domestic revenue mobilization, balancing equity and efficiency.

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The rest are Pursuing a qualitative fiscal consolidation, ringfencing growth, enhancing spending and social programmes.

“Mr. President we can reset the country by cutting expenditure”, he assured.

Source: newsflashafrica.com