Pulse.com.gh logo
Go


Economic Policy NPP will restore macroeconomic stability, fiscal discipline - Akufo-Addo

Speaking at the Annual General Meeting (AGM) of the Ghana Employers Association (GEA), the New Patriotic Party presidential nominee also promised to prioritise Ghana's industrial and agricultural sector, adding that it will provide the country with an advantage in regional and global trade.

  • Published:
play Nana Akufo-Addo

Nana Akufo Addo has delivered a major speech about his plans for the economy, promising to restore macroeconomic stability and fiscal discipline.

Speaking at the Annual General Meeting (AGM) of the Ghana Employers Association (GEA), the New Patriotic Party presidential nominee also promised to prioritise Ghana's industrial and agricultural sector, adding that it will provide the country with an advantage in regional and global trade.

“A future NPP government, God willing will focus on four key areas which include building a strong resilient economy by restoring macroeconomic stability and ensuring discipline.

"These sectors provide the basis for Ghana to add value to its natural resources and optimise its comparative and competitive advantage in regional and global trade,” he said.

Akufo-Addo bemoaned the decline in the Ghanaian economy, attributing it to some counterproductive measures instituted by the ruling National Democratic Congress.

He, therefore, promised to reduces some taxes to give businesses the breathing space to expand.

READ MORE
Akufo-Addo promises '1-village-1-dam' to support agriculture
Nana Addo promises tax incentives to businesses
1 district, 1 factory is to curb rural urban migration

Regrettably, there is been recently a decline in the Ghanaian economy characterised by slow and stunted growth , high levels of unsustainable debt , high inflation, high interest rates and a weak and unstable currency.

“Some of the specific policy intervention is to shift the focus of the economic policy from taxation to production, removing import duties on raw materials within the context of the ECOWAS External Tariff,” he said.

The NPP leader has on various platforms promised to abolish import duties on raw materials in a bid to re-ignite manufacturing and industrial activity in the country.

He told businesses in Ashanti Region in July that the move will make local businesses competitive.

He said: "One of the first things we want to do to stimulate industrial production in Ghana is to remove import duties on industrial raw materials, we are going to do, because we have to put Ghanaian enterprises exactly where we are talking about to make them competitive, these are the things government does, …so manufacturing equipment will be zero rated.

"So Ghanaian enterprises can successfully compete with Chinese, Korean, Malaysians, Taiwanese because that is what we should be looking at etc that is why am calling you all to come on board."

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Illegal Operations Menzgold extends suspension of gold vault market servicesbullet
2 Ponzi schemes in Ghana These investments are Ponzi schemes in Ghana,...bullet
3 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
4 Illegal Operations Menzgold customer threatens to sue over...bullet
5 Fuel Prices IES predicts fuel prices to go upbullet
6 How to create a verified PayPal account Learn how to create a...bullet
7 Kotoka International Airport GACL to move all domestic...bullet
8 Corruption? Oil companies deny ¢40.5m payments in Chief of...bullet
9 Economy of Ghana Vice President Bawumia says Ghana's...bullet
10 Retrenchment ATL sacks 200 workers, rest of staff not...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 Former Capital Bank staff grills pork for survivalbullet
4 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Support Finance minister buys Kantanka carbullet
7 Bozoma Saint John 10 quotes from Uber top official, Bozoma,...bullet
8 Selorm Adadevoh MTN CEO dances Agbadzabullet
9 Plane Crash Starbow suspends operations following plane...bullet
10 Tech 6 reasons you should buy an iPhone SE instead of...bullet

Business

X
Advertisement