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.