Gov’t set to review 16 priority flagship programmes to cushion economy

The Information Minister, Mr Kojo Oppong Nkrumah, says all the 16 government priority flagship programmes are up for review to aid the fiscal consolidation of the economy.

This follows a three-day crunch Cabinet meeting at the Peduase Lodge, Aburi, Eastern Region, to proffer solutions to the current economic hardship in the country.

In a media interview on Monday and posts on his Twitter page, Mr Oppong Nkrumah said: “Cabinet has concluded its deliberations and His Excellency, President Nana Addo Dankwa Akufo-Addo, has taken some decisions aimed at mitigating the impact of the global difficulties on Ghana.”

“Finance Minister Ken Ofori-Atta will provide details of these measures later this week after consultations with key stakeholders”.

The Minister said Cabinet undertook extensive appraisal of the performance of the Government programmes and discussed the impact of the global economic difficulties on the economy and Ghanaians in general.

“President Akufo-Addo approved a number of far-reaching measures aimed at mitigating the depreciation of the Cedi, ensuring expenditure discipline, and providing relief in the face of global fuel price hikes and inflation as well as ensuring that priority programmes meant to grow the economy are protected,” he said.

“Government appreciates the efforts of all who contributed to a successful retreat and looks forward to the support of all Ghanaians in implementing the agreed measures.”

The Ghana Cedi has suffered a sharp depreciation, trading at GHc 7.8 per the US dollar, while fuel prices had shot up, witnessing more than 18 per cent cumulative increase since the beginning of the year.

The situation has adversely affected transport fares and cost of goods and services across the country.

Some economic analysts and the Minority Group in Parliament have asked government to stop the implementation of the Free Senior High School Policy and other flagship programmes to save money to cushion the economy.

Mr Nkrumah also noted that government would strengthen the country’s intelligence architecture due to the precarious security situation in the West African sub-region.