As the mid-year budget review approaches, Finance Minister Dr. Mohammed Amin Adam is seeking to mobilize the banking sector’s backing to reinforce Ghana’s economic progress and fortify the nation’s fiscal stability, ahead of his presentation to Parliament.
The Finance Minister emphasized the crucial role banks play in driving economic growth, acknowledging that their support for businesses remains vital to the nation’s economic development and prosperity.
At a stakeholder meeting with bankers to discuss the 2024 budget implementation, Finance Minister Dr. Mohammed Amin Adam reaffirmed his commitment to fiscal discipline, paving the way for economic growth under the IMF program. He hinted that the upcoming mid-year budget review will unveil initiatives to boost economic expansion, emphasizing the importance of aligning with the banking sector to facilitate private sector growth and accelerate the nation’s development.
The Finance Minister also dropped a hint about potential revisions to the Fiscal Responsibility Act, revealing that discussions are underway to establish fiscal rules that would cap debt levels.
He emphasized the importance of soliciting input from stakeholders and business associations to build consensus and create a comprehensive policy framework that guides the government’s decision-making process, ensuring that policy reviews enjoy broad support and are aligned with the interests of all stakeholders.
