At a press conference, Mr Nkrumah said the 2019 budget is the third economic document of the Akufo-Addo-led government and the first which will not be under the supervision of the International Monetary Fund (IMF).
Ghana’s Cabinet has reviewed the budget and economic policies of the government for 2019.
This was revealed by the Information Minister Kojo Oppong Nkrumah. At a press conference, Mr Nkrumah said the 2019 budget is the third economic document of the Akufo-Addo-led government and the first which will not be under the supervision of the International Monetary Fund (IMF).
“The 2019 budget will mark the beginning of Ghana’s exit from the IMF program under which we sought almost 918 Million Dollars, over three years with conditions attached.”
He said that the NPP government worked tirelessly to correct slippages from set targets under the program in the first two years.
“The improved Macro environment is evinced by the reduced Policy rate, reduced inflation, reduced fiscal deficit, improved growth, improved reserves, and improved credit ratings,” he said.
He further stated that the government has implemented a number of social interventions which include the Free SHS program, expanded school feeding program and initiatives such as the Planting for Food and Jobs.
Mr Nkrumah said that the 2019 budget is designed to bring more relief, hope, and improvement in the standard of living of Ghanaians.
The Minister said some of the targets the government seeks to achieve after the successful exit of the IMF program include maintaining the Fiscal Discipline, Increase liquidity in the Ghanaian economy, Sustain the heightened growth which has been restored as well as invest in massive infrastructure without compromising on debt sustainability.