Finance Minister, Seth Terkper, says the government expects measures being implemented to promote fiscal discipline to begin yielding positive results next year.
According to Mr. Terkper, the economy is responding positively to the fiscal policy measures.
Briefing Parliament on the state of the economy Tuesday, April 1, 2014, the Finance Minister was confident that the measures, all of which are "home grown", are capable of making the economy readjust.
The state of the nation's economy has been the topic of discussions at several fora with many blaming the government for its poor management policies.
Last week, Dr. Mahamadu Bawumia, 2012 vice presidential candidate of the opposition New Patriotic Party delivering a public lecture at the Central University College, critised government for spending beyond the budgeted limit, contributing to the present economic mess.
Mr. Terkper noted that despite the marginal gains made so far, the threat of volatility still exists and therefore urged strict adherence to the measures.
Despite the fear that the fiscal measures would cause disaffection among investors, the Finance Minister said Ghana still remains a favourable investment destination.
He emphasised government has no intention of controlling the economy with the measures.
He promised the House that he will brief Parliamentarians regularly on the state of the economy.
Responding to the Minister's statement on the floor, ranking member of Parliament's Finance Committee, Anthony Akoto Osei commended Mr. Terkper for being blunt on the economy which according to him, re-emphasises the position of the minority.
"I commend the Minister [Seth Terkper] for having the boldness to come to the house and I hope the investors will hear this," he concluded.
Latest Stories
-
Police fire tear gas to disperse Benin wage protest
9 mins -
Airline keeps mistaking 101-year-old woman for baby
13 mins -
Harvey Weinstein hospitalised after conviction overturned
17 mins -
Anis Hafar: Learning how to avoid wars
22 mins -
Private legal practitioner wins Akan NPP parliamentary candidate poll
39 mins -
American-Israeli hostage appears in Hamas video for first time
50 mins -
Samson’s Take: Arrogance of Power, Shameful Policing
8 hours -
Burnley score late to draw with Manchester United at Old Trafford
10 hours -
Bayer Leverkusen extend unbeaten run to 46 games after draw with Stuttgart
10 hours -
Chelsea come from two goals down to draw against Aston Villa
10 hours -
Andre Ayew scores in Le Havre’s 3-3 draw with PSG
10 hours -
GPL 2023/24: Kotoko draw with Medeama; Samartex go 7 points clear of Nations FC
10 hours -
Mahama cuts sod for construction of new multipurpose Jakpa palace in Damongo
11 hours -
NSS management assists Papao fire victims
11 hours -
EXPLAINER: Will dumsor end soon?
12 hours