2023 Budget: President Nana Akufo-Addo Assures Policy Document Will Address Current Economic Challenges

• President Nana Akufo-Addo has assured that the 2023 budget will address the current economic crisis
• The president said the various interventions and policies introduced in the policy document would be the game changer
• Speaking at the 38th annual Farmers’ Day Celebration in the Eastern regional capital, Koforidua, he called on Ghanaians to support the austere measures introduced by his government

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has assured Ghanaians that the 2023 budget will solve the current economic crisis being experienced.

According to him, the various interventions introduced in the economic policy document will be the game changer towards addressing the challenges.

2023 Budget: Akufo-Addo Defends Austere Measures Introduced In Policy Document

Speaking at the 38th annual Farmers’ Day celebration in the Eastern Regional capital, Koforidua, Akufo-Addo defended the introduction of austere measures saying it was important to ramp up efforts in domestic revenue mobilisation.

Read also

Economic crisis: Dr Ato Forson says marriages are collapsing under this government

“The 2023 Budget presented to Parliament by the Minister for Finance seeks to address these economic challenges through a number of very difficult, but necessary measures. These measures include a debt operation to address our fiscal and debt sustainability concerns.”

2023 Budget: Expenditure Rationalisation Measures Will Help Address Crisis - Akufo-Addo

Touching on the expenditure rationalisation measures, he said it was crucial as it would help reduce the pressure on the local currency as the country navigates through the storms.

He expressed optimism that the introduction of the fiscal measures plus other interventions outlined in the 2023 Budget will go a long way to address the economic challenges.

2023 Budget: Ofori-Atta Announces Ban On Public Sector Employment, Use Of V8s And Other Austere Measures

Earlier, YEN.com.gh reported that to manage Ghana's expenditure in the face of the ever-worsening economic crisis, the government announced some tough measures in the 2023 budget.

Read also

Government appeals to parliament to expedite approval of 2023 budget as current crisis will worsen if it is delayed

According to the Finance Minister, Ken Ofori-Atta, the cabinet approved the measures geared towards expenditure rationalisation.

Notable among the austere measures include a freeze on hiring workers from January 1, 2023. That's not all; there's also a 50% slash in fuel coupons to political appointees and heads of MDAs, MMDAs and SOEs and a freeze on the use of V8s and V6s except for official cross-country trips.

Source: YEN.com.gh