In preparation for the 2023 Mid-Year Budget Presentation to Parliament today, government on July 24, 2023, held a crucial engagement with representatives from the business community and various stakeholders.
The meeting sought to foster dialogue and collaboration on the forthcoming Mid-Year Budget Review and Ghana’s Economic Stability and Growth agenda.
Present at the engagement were key players including the Ghana Union of Traders Association (GUTA), Trade Union Congress (TUC), Ghana Chamber of Mines, Economic Governance Platform, “Akuafo Nketewa” or the Peasant Farmers Association of Ghana, Civil Society Organizations, and representatives from academia.
During the meeting, Minister for Finance, Ken Ofori-Atta, unveiled an ambitious initiative known as the “Ghana Mutual Prosperity Dialogues.” This initiative aims to foster a stronger partnership between the private sector and the government, with the goal of achieving resilient economic recovery and sustained growth. By bringing together the public and private sectors, the government aims to tap into the expertise and resources of both parties to create a more dynamic and robust economy.
One of the central themes highlighted by the Finance Minister during the engagement was the importance of addressing issues related to affordable food, education, and health. Minister Ofori-Atta emphasized that these fundamental aspects are vital for the well-being and progress of all Ghanaians. He pledged the government’s commitment to do whatever it takes to ensure that these essentials are accessible to the entire population.
The engagement served as a platform for stakeholders to present their perspectives on critical economic matters and voice their expectations for the upcoming budget presentation. The involvement of diverse stakeholders ensures that a broad spectrum of opinions and concerns is considered, fostering a more comprehensive and inclusive approach to economic policymaking.
President of GUTA, Dr. Joseph Obeng expressed his organization’s appreciation for the government’s efforts in engaging the unions, business community and stakeholders ahead of the budget presentation. He emphasized the importance of a collaborative approach in driving economic progress and underscored GUTA’s commitment in making meaningful inputs to government’s policy documents.
Prof George Domfe, a Development Economist and Senior Research Fellow at the Centre for Social Policy Studies (CSPS) at the College of Humanities, University of Ghana, on his part commended Minister Ofori-Atta for his proactive approach to economic management, especially in prioritizing the implementation of measures to bring inflation down.
Prof Domfe’s praise echoed sentiments shared by several attendees who acknowledged the government’s efforts in navigating challenging economic conditions.