Ghana’s Economy We will not compete with the private sector during my tenure

Nana Addo reiterated that the private sector will be the main leader in his agenda hence the need to avoid competing with them for funds.

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The President Elect Nana Addo Dankwa Akufo-Addo has promised the private sector that a government under his leadership will not compete with the private sector for funds.

Nana Addo was speaking to members of the Private Enterprise Federation (PEF) at the Ghana Institute of Management and Public Administration (GIMPA).

He reiterated that the private sector will be the main leader in his agenda hence the need to avoid competing with them for funds.

READ ALSO: From #kalypochallenge to Nana Addo mackerel

“To attain a competitive economy that is capable of producing a sustainable growth, jobs and shared benefit for all, two key stakeholders must play their roles. First, the government by setting the environment and climate to allow private sector to flourish and secondly the private sector to have the confidence to exploit all the opportunities offered by such a business friendly environment,” he said.

“Once in government, our priority is to do all we can to give you the confidence and the positive business environment devoid of arbitrary  and irrational policy initiatives and one that gives you confidence to do what you should do best to invest in the numerous opportunities to create jobs and prosperity”.

He further mentioned that NPP will focus more on job creation to reduce the unemployment rate in the country. He also said taxes will reduce drastically with a shift to production boost taking the forefront.

READ ALSO: I will establish guidelines for fiscal discipline – Nana Addo

“To achieve our objective, our principle economic policy direction will be to restore macroeconomic stability to shift the focus of economic management from taxation to production to manage the economy competently and make the machinery of government work to deliver the benefits of progress to Ghanaians," he said.

“The NPP will restore and maintain macroeconomic stability through the pursuit of sound policies on the bases of an enhanced institutional framework,” he added.

He added that “macroeconomic stability is built around three pillars, monetrary discipline, fiscal discipline and financial stability”.

The Private Enterprise Federation (PEF) had earlier called Nana Akufo-Addo to allocate resources judiciously to create an enabling economy for the private sector to also grow.

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