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Politics

Mills, Duffuor, others brainstorm on economy

President Mills takes members of his economic team to Akosombo for a four-day retreat. The team will be brainstorming on the best strategies for confronting the country's economic challenges and will use the ideas generated to prepare the budget for the year. Sources close to the President say various policy alternatives will be put on the table for discussion and the best policies picked from these options. Ghana has enjoyed a fairly stable economy until the last two years when the country run into a deficit having spent more money than it actually had. The latest report of the Bank of Ghana, however, describes the economy as resilient and able to withstand “cost price pressures arising from oil imports, corrective tariff adjustments in the energy and utility sectors and fiscal stimulus.” The meeting in examining the health of the economy will also inform President Mills’ sessional address which will set the tone for the President’s first budget statement. Prof Mills takes up the country at a time the World Bank warns a lot has to be done to maintain the resilience of the economy. The Finance Minister-designate, Dr Kwabena Duffuor, has said the country faces temporary challenges that must be resolved. ‘100 days miracle’ The President’s social contract with the country during the electioneering is also expected to be put to discussion at the Akosombo convention. The manifesto of the then opposition National Democratic Congress (NDC) presented a set of policy reforms to be executed within the first 100 days of the party in office. Prof. Mills at his inaugural address on January 7 promised improved security to guarantee the safety of Ghanaians from armed robbery attacks. The NDC also promised “bold and comprehensive” measures to deal with filth in the country’s major cities – Accra and Kumasi. In securing a lean government however, the government has slashed the number of ministries to 23 four less than the former 27. But at the heart of these promises is the expectation of Ghanaians for improved standards of living. Story by Fiifi Koomson Joy Business News contributed reporting

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.