|
Veep Alui Mahama unfolds 2057 Budget
Document
Accra, Sept. 20, Ghanadot - With a look towards the next 50
years, Vice President Alui Mahama on Thursday launched
Ghana's 2057 budget that seeks to define the road map for
opportunity for real economic growth ahead.
The document, which is composed of ten sessions include
world economic development and outlook, development and
outlook in the African economy, macro economic framework for
the medium term, sectoral performance and outlook for 2057,
policy initiative and implementation challenges.
Vice President Mahama, who launched the document during the
50 years celebration of Ghana's cooperation with the Bretton
Wood Institutions in Accra noted; "The 2057 Budget is a
document that ought to inspire our youth to take the future
into their own hands."
"The youth of today with self-belief and the willingness to
try, backed by the expertise and capacity building of the
World Bank and the International Monetary Fund (IMF) can
rise above the challenges of Global warming, the digital
divide, skilled labour migration, threat of terrorism and
cross border crime, to reach the heights of development that
the 2057 budget predicts."
Vice President Mahama said in 50 years, Ghana expected fair
trade from the International Community, an Inter-modern
transport project, including tunnels from Dodowa to Kwamoso
and Nkawkaw to Abene, a thriving agro industrial complex and
the skilled gender balanced population.
He said with careful management, the resources to invest
will be available, adding that, the Bui Dam, discoveries of
oil and other improvement in the energy sector would offer
exciting possibilities.
"Distinguished friends of Ghana, these targets are possible.
Other countries have planned 100 years ahead."
Vice President Mahama described Ghana's relationship with
the Bretton Wood Institution as eventful with ups and downs.
He said after years of waiting for the economy to take off,
the ruling New Patriotic Party was compelled to seek debt
relief, stressing; "I need not recall the passion and
intensity of public involvement at the time."
"His Excellency President Kufuor's focused vision and
tenacity of purpose has been rewarded with the distinction
of having the road to his residence renamed Heavily Indebted
Poor Countries (HIPC) Initiative Junction by acclaim."
Vice President Mahama said government had insulated the
economy from so-called external shocks to the point where
inflation, interest rates and exchange rate are stable
enough for the private sector to be able to predict and plan
with certainty.
"Today, we have positive credit ratings from Reputable
International Financial system with the commencement of
off-shore financial services and the movement to issue Cedi
denomination sovereign bonds on the International Market."
Vice President Mahama said Ghana must be proud of itself,
whiles the World Bank and the IMF deserved to share in that
pride.
Mr. Kwadwo Baah-Wiredu, Minister of Finance and Economic
Planning said since 2000, government had pursued an economic
strategy that focused on macro-economic stability and
poverty reduction.
He said the International Development Agency is supporting
the agenda by scaling up its support to Ghana to an average
of 370 million dollars a year, over the next four years as
contained in the Country Assistance Strategy document.
Mr Joseph Henry Mensah, Chairman of the National Development
Planning Committee said Ghana's relations with the Bretton
Wood Institutions had not yielded the necessary fruits,
hence the need for the nation to redefine development
perspective and policies.
He expressed regret that for over 50 years, no African
country had been able to transform its economy to a second
world status and said that goal must be the challenge for
the Millennium.
Ghana signed the World Bank Article of Agreement in 1957,
becoming the 64th bank group member.
Fifty years on, over five billion dollars in loans and
grants have enabled Ghana to advance development and reforms
in all spheres of the national economy with the assistance
of the Bank's first loan to Ghana.
Source GNA
|
