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 NewsBusiness

Gov’t targets passage of Fiscal Responsibility law by end of 2018

Latifa Carlos
Last updated: October 23, 2018 3:57 pm
Latifa Carlos
Share
3 Min Read
SHARE

Government has targeted the end of this year to pass a Fiscal Responsibility Law to help cap budget deficit, Vice President Dr Mahamudu Bawumia has said.

He said the passage of Fiscal Responsibility Law will ensure that the budget deficit will not exceed 5% for a fiscal year.

The Vice President was speaking at the Ghana Investment & Opportunity Summit 2018 in London.

More Read

Eliminating Intra-African Trade Barriers no Longer Optional – AfCFTA Scribe
Judge reverses Trump administration’s cuts of billions of dollars to Harvard University
I’ll hold you to the June 2026 deadline – Mahama to Ofankor–Nsawam road contractor
Draft report on review of Constitution to be ready by October – CRC
GRNMA apologises to Health Minister over attacks

The two-day Summit is being organised by the Ghana High Commission in the UK, in collaboration with the Ghana Investments Promotion Centre (GIPC).

Dr Bawumia said the Fiscal Responsibility Law will also “ensure complementary monetary management and establishment of institutional safeguards such as the Financial Stability Council (FinSC), Fiscal Council (FisC), and an International Economic Advisory Council.

The overarching objective is to safeguard the financial system, deepen financial intermediation, widen financial inclusion, and position Ghana as a West Africa Financial hub and economy with greater policy credibility,” he said.

Ghana Beyond Aid

He said the government is “under no illusion that this [Ghana Beyond Aid] is easier said than done. But an even greater illusion is to think that we can build a sustainably good society on the inexhaustible charity of others. History provides no such examples. And we cannot hope that our fortunes will be different.
Dr Bawumia said to build a Ghana Beyond Aid, “we need some long-term pillars.”

He added that for Ghana to achieve this the country must endeavour to do the following:

  • Strengthen the knowledge, scientific and technical capacity of citizens by improving access to and quality of the education system.

•    Leverage on its natural resources for national development through value addition, or failing that, at a fair and mutually acceptable and beneficial term of exchange.

•    Place a greater premium on cross-border and overseas trade and investment on fair and mutually beneficial terms,

•    Deepen and enhance efficiency in domestic revenue mobilization.
•    Enhance efficiency in the allocation of public resources and greater accountability in the use of these resources, and

•    Protect the public purse and punish corruption in all its forms in the conduct of the business of Ghana.

The Summit, under the theme: “Mobilising for Ghana Beyond Aid”, is expected to showcase Ghana as one of the best investment destinations in Africa and help Government attract strategic and development funds and investments for key projects.

It is also to match local businesses with international partners and Investors.

Executives from some of the largest global firms, Venture Capitalists, Private Equity Fund Managers, Investment Bankers and other business leaders from across the globe are attending the meeting to provide a networking opportunity with potential investors and various government Officials.

 

Source: Myjoyonline.com

Share This Article
Facebook Whatsapp Whatsapp Email Copy Link Print

Latest News

Shadows of Empire: The CIA, Kwame Nkrumah, and the Struggle for Ghanaian Sovereignty
September 3, 2025
Empowering Rural Women through environmental justice: GAGGA grantees convene in Accra
September 3, 2025
Birim North District Unveils Medium -Term Development Plan and More…
September 2, 2025
Chief Justice Getrude Torkornoo removed
September 1, 2025
ABANTU Engages Unsuccessful Women Parliamentary Candidates to Strengthen Political Participation in Ghana
August 28, 2025
Pakistan unveils 7-point plan for Gaza peace at OIC summit
August 26, 2025
Bagre Dam Spillage claims life of farmer
August 26, 2025

You Might Also Like

Breaking NewsBusinesstop stories

Ghana and Nigeria explore electricity for gas barter agreement

August 26, 2025
Breaking NewsGeneral Newstop stories

Ghana drops to 61st in 2025 Global Peace Index

August 26, 2025
Breaking NewsDevelopment AgendaElection watch

Charles Abugre Chairs MiDA Board

August 22, 2025
Breaking NewsBusinesstop stories

Ghana cedi is world’s best-performing currency – Mahama tells investors in Japan

August 20, 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?