According to the statement made by the Minister of Finance, Ken Ofori-Atta, the budget for the year 2023 will be based on a 7-point agenda with the goals of reestablishing macroeconomic stability and accelerating our economic transformation, as outlined in the Post-COVID-19 Programme for Economic Growth (PC-PEG).
- Aggressively mobilize domestic revenue.
- Streamline and rationalize expenditures.
- Boost local productive capacity, promote and diversify exports.
- Protect the poor and vulnerable.
- Expand digital and climate-responsive physical infrastructure.
- Implement structural and public sector reforms.
- Expand climate-responsive physical infrastructure.
According to him, there are three important imperatives that must be met in order to attain these goals, and they are as follows: effectively negotiating a solid IMF program; managing an equitable debt operation program; and attracting large green investments.
This will make it easier for us to implement the PC-PEG program, which will revitalize and restructure the economy, produce large amounts of money, and create the requisite budgetary space for the provision of key public services.
In addition, we will be able to earn substantial revenue. He went on to say that the events that have transpired since March 2020 have shown him the widespread unpredictability of the world we live in today and the wisdom in the goal of President Akufo-Addo to reset the Ghanaian economy via industrialization.
“Our determination to reset the economy and restore macroeconomic stability is reflected in this budget,” the president said. But in order to do this, we will need the backing of the Ghanaian people as well as the collaboration and authorization of this Parliament.
Our current objective is to significantly increase revenues, significantly reduce the cost of running the government, significantly expand local production, invest more to protect the poor and vulnerable, and continue expanding access to good roads, education, and health care for every Ghanaian, no matter where they are located in Ghana or the diaspora. The minister declared.