Public Agenda NewsPaperPublic Agenda NewsPaper
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Font ResizerAa
Public Agenda NewsPaperPublic Agenda NewsPaper
Font ResizerAa
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Search
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Follow US
Breaking NewsDevelopment Agenda

Remember the poor, vulnerable as you take steps to revive economy – World Bank to government

Suleman
Last updated: January 27, 2022 12:44 pm
Suleman
Share
3 Min Read
Pierre-Laporte-World-Bank-Ghana-Director
SHARE

The World Bank’s Country Director for Ghana, Pierre Laporte, has cautioned the government to be mindful of the poor and vulnerable in any decision taken to revamp the economy.

He indicated that any measure that impacts negatively on their already dire living conditions will not yield the desired result.

Speaking at the New Year School at the University of Ghana on Tuesday, he asked the government to target safety net programmes and other initiatives to improve the standard of living of its citizens.

More Read

$100m legal war erupts between E&P and Azumah Resources
Ghana to attract more global oil investors after Akoma and Eban 1X discoveries
Govt cracks down on illegal mining task forces amid extortion claims
Dr. Adrian Alter appointed new IMF resident representative for Ghana
Ablekuma North: EC to rerun Parliamentary Election in 19 Polling Stations

“Inflation in Ghana has exceeded the Central Bank’s target since October last year, largely driven by global inflation. There are many reasons to be concerned [because] inflation is a terrible thing for the economy, especially for the poor.”

“Our focus will continue to be to advocate for protecting the poor; for instance, through targeting social safety net programmes,” Mr. Laporte suggested.

He urged the country to take stringent measures to increase revenue mobilisation and the responsiveness of the health system to meet demands.

According to him, such measures will yield dividends in the country’s quest to confront inflation.

“Notwithstanding Ghana’s strong recovery growth, it came into the crisis [Covid-19] with a certain degree of fiscal fragility, with a level of borrowing that wasn’t much with the required level of revenue mobilisation. I am sympathising with my colleague Finance Minister in the need for Ghana to take the necessary steps to boost revenue mobilisation.”

“Secondly, boosting the productive capacity of the economy is the most sustainable way of dealing with inflation. Ghana needs to bolster the responsiveness of the health system. Ghana’s population will continue to grow and that means it’s imperative to provide quality education,” he added.

Speaking at the same event, President Akufo-Addo was confident measures undertaken will propel the economy to bounce back.

The government is pushing through the approval of the Electronic Transaction Levy to generate revenue internally as the cost of borrowing on the international market becomes more expensive due to the downgrade of the country’s creditworthiness by global rating firm Fitch.

President Akufo-Addo says the 2022 budget has a lot of incentives for startups which aim to expand the economy and generate jobs.

“We will continue along the path of promoting inclusive growth and improving the standard of living of our citizens. Our investments in digitalisation are helping to build efficient digital platforms for government businesses, deepen financial inclusion and build a credible database of the information to inform policies.”

“The 2022 budget is focusing on building an entrepreneurial workforce. We’ve had extensive consultations with all relevant stakeholders and agreed on the ‘YouStart’ initiative as part of the ways of operationalising the ‘Ghana Cares’ programme to address the unemployment menace,” he indicated.

Source: Myjoyonline.com

Share This Article
Facebook Whatsapp Whatsapp Email Copy Link Print

Latest News

Ghana secures $370M from IMF after successful review
July 8, 2025
Mid-Year budget to clarify road contractor payments – Ampem Nyarko
July 2, 2025
 ISODEC Urges Citizens to Engage More in Local Governance Processes 
July 2, 2025
Mfantseman Youth Trained to Strengthen Local Governance Participation 
July 2, 2025
Government Reaffirms Commitment to Investment-Friendly Environment to Attract Development Financing
July 1, 2025
New UN report charts path out of debt crisis threatening global development
June 30, 2025
World Bank backs Ghana $360m to strengthen macroeconomic stability
June 30, 2025

You Might Also Like

Breaking NewsElection watchtop stories

GJA holds national and regional elections today

June 30, 2025
Breaking NewsBusinesstop stories

PURC announces 2.45% increase in Electricity tariffs from July 1

June 26, 2025
Breaking NewsBusinesstop stories

Iran cannot unilaterally shut Strait of Hormuz – NPA boss

June 23, 2025
Breaking NewsBusinesstop stories

Israel-Iran war: Fuel prices likely to rise in July – COPEC

June 23, 2025

About Us

Public Agenda is fou­nded and owned by Pu­blic Agenda Communic­ations.

Public Agenda was founded as a public interest Me­dia entity. Its Visi­on is to contribute to building a well-i­nformed society where accurate informati­on dissemination is the cornerstone of a democratic, just and equitable society.

Its mission is to inform, guide and bui­ld responsible citiz­enship and accountab­le decision making and strive for excell­ence in the media in­dustry. Public Agenda Communications is managed by a Board of Directors.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?