Minister for Finance, Ken Ofori-Atta, says President Nana Akufo-Addo has worked hard to deliver substantial achievements.
Delivering the 2020 Budget statement in Parliament on Wednesday, the Minister listed some achievements by the Akufo-Addo-led government.
Below are some of the achievements:
- We have doubled the rate of economic growth to make Ghana one of the fastest growing economies in the world.
- We have expanded food production to make Ghana self-sufficient in maize production through planting for food and jobs.
- We have also introduced and implemented Rearing for Food and Jobs to develop the livestock industry.
- Together with Cote d’Ivoire we have reached a landmark agreement to have a floor price for cocoa from next season.
- We have passed a Fiscal Responsibility Act to entrench fiscal discipline.
- We have reduced the fiscal deficit; We have also established a Fiscal Council
- We have issued a Eurobond with the Longest tenor, Largest issuance, Least cost and Largest over subscription, reduced the rate of debt accumulation.
- We have also reduced electricity prices.
- We have reduced benchmark values by 50%. We reduced inflation to its lowest in 27years
- We have also reduced bank lending rates.
- We have saved the deposits of some 4.6 million depositors. Government has also established a Financial Stability Council.
- We have attained a trade surplus for the first time in over twenty years
- We have established and implemented the National Entrepreneurship and Innovation Program (NEIP) with over 10,000 beneficiaries.