There was a purpose to Vice President Mahamudu Bawumia dedicating 33 percent of his address at the recent town hall meeting in Kumasi just to the macroeconomy, the Information Minister, Kojo Oppong Nkrumah, has said.
Speaking on the Point of View on Citi TV, Mr. Oppong Nkrumah explained that this was to stress the efforts put into this foundation aspect of the economy.
“One of the first things you need to do is to check the Macro foundation of the country and ensure that if you inherited things at a time the macro-fiscal situation was abysmal, you restore or you bolster or maintain stability,” the Minister explained.
“It is upon that stability we are going to build our entire programming… It was strategic for us to spend some time on the macros that we inherited and what we have done in the last three years and two months to bring the macro to a stable point and to bolster this macro,” he added.
Mr. Oppong Nkrumah also said the focus on the macroeconomy was “deliberate to set a certain a foundation, show where we have come from where we are and what remains to complete.”
Amid concerns over the minimal attention paid to infrastructure, the Minister also noted that the next town hall meeting “will focus squarely on infrastructure.”
Ghana’s economic growth is projected to increase to 7.6% in 2019 with on-oil growth expected to accelerate to 6%.
Inflation is expected to remain within the Central Bank’s target range of 6-10% over the medium term.
But the pace of fiscal consolidation is expected to slow in 2019 and the overall fiscal deficit is projected at 4.5% of GDP in 2019 and, in the medium term, it will remain within fiscal rule ceiling of 5% of GDP, per the World Bank.
The post Townhall meeting: Bawumia’s emphasis on macroeconomy strategic – Oppong Nkrumah appeared first on Citinewsroom - Comprehensive News in Ghana, Current Affairs, Business News , Headlines, Ghana Sports, Entertainment, Politics, Articles, Opinions, Viral Content.
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