The Presidential Advisor of the 24-hour Economic system coverage, Goosie Tanoh has underscored the pressing have to restructure Ghana’s economic system, shifting away from its heavy reliance on imported commodities.
He highlighted Ghana’s staggering US$2.4 billion annual meals import, saying, it undermines nationwide progress and job creation.
Talking on the PWC Ghana 2025 Price range Digest in Accra, Mr. Tanoh stated the federal government’s accelerated export improvement programme will handle the challenges affecting the agriculture sector.
“The staggering $2.4 billion spent yearly on meals imports have to be restructured,” stated Mr. Tanoh.
“This isn’t only a monetary concern, however one which hampers our skill to generate employment and develop our native industries. The federal government’s Accelerated Export Growth Programme will handle these challenges by specializing in boosting native manufacturing and decreasing our dependence on imports”, he defined.
Mr. Tanoh highlighted that the brand new method isn’t just about chopping imports, however about remodeling the whole agricultural worth chain to create sustainable jobs and guarantee long-term financial stability.
Presidential Advisor on the Economic system, Seth Tekper, on the occasion emphasised the federal government’s dedication to supporting native enterprises.
He talked about that the federal government plans to proceed backing the Exim Financial institution to assist facilitate worth addition and help export progress.
“We won’t solely proceed to help the Exim Financial institution, however we’re actively engaged on rising worth addition inside our home industries”, he identified.
“That is essential to making sure that we are able to retain extra worth regionally and reduce our reliance on imports”, he stated.
Senior Nation Accomplice at PwC Ghana,Vish Ashiagbor, expressed optimism in regards to the authorities’s method.
He famous that the multi-pronged financial technique is poised to counter potential income losses whereas tackling the nation’s import dependency.
“I’m assured that with the federal government’s holistic method, which incorporates strengthening exports and fostering native manufacturing, Ghana will see a discount in its commerce imbalance and a rise in sustainable financial progress,” stated Mr. Ashiagbor.
As Ghana continues to grapple with its financial challenges, these strategic plans to boost native manufacturing and cut back imports are being seen as important steps towards sustainable nationwide progress. The federal government’s concentrate on agriculture, job creation, and worth addition guarantees a extra self-reliant future for the nation.
The PwC Publish-Price range Evaluation is a complete assessment of the federal government’s proposed monetary insurance policies, fiscal measures, and their implications for numerous sectors, companies, and most people.
Key stakeholders, together with policymakers, economists, enterprise leaders, and the media, gathered to research and talk about the price range’s effectiveness, its alignment with nationwide priorities, and its potential to drive financial progress, job creation, and social improvement
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