The Member of Parliament for Afigya Kwabre North, Collins Adomako Mensah, has said that Ghana’s economy will stabilize by the beginning of next year.
He noted on Movement in the morning show on Wontumi Radio/Movement TV that even at the peak of the COVID-19 pandemic where many economies were in shambles, Ghana was one of the few countries in West Africa that its economy grew around 0.4%
“The proactive decisions taken by government to fight the pandemic as well as revitalize and transform the economy with the many social interventions anchors bright prospects for the medium-term. The Government would continue to implement prudent fiscal measures to quicken the pace of fiscal consolidation”, he told Kwaku Dawuro.
He also hinted on measures government is likely to adopt to restore the country back to the path of economic recovery, which the finance minister is expected to present in the 2023 budget statement.
“Some existing measures like the ban on purchase of new cars for government agencies, ban on unnecessary foreign trips among some few others will still be maintained. Ghanaians should be rest assured that the government wouldn’t touch any of the social intervention programs like free SHS, Nursing trainee allowance, teacher trainee allowance will be intact- what I’m learning is that Livelihood Empowerment Against Poverty (LEAP) will be increased likewise school feeding. So, for the social net, government is doing everything to protect the vulnerable”, he said.
He added that its likely E-levy will be reviewed.