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2023 budget will address economic challenges – Akufo-Addo

Speaking on Friday, December 2, during the 38th National Farmers’ Day celebrations, he mentioned that his administration had made a number of investments in the industry.

He said that the government has taken a number of steps to step up efforts to solve issues facing the agricultural industry.

“Through a number of difficult but essential actions, the 2023 Budget, which was presented to Parliament by the Minister of Finance, aims to solve these economic issues. To address our worries about the sustainability of our finances and debt, these actions include a debt operation.

“Debt sustainability difficulties cannot be solved solely by debt operations. To support debt and fiscal sustainability, we are enhancing the debt operations with fiscal adjustments through improvements in revenue collection and spending optimization strategies. This is the reason why the Finance Minister presented the Parliament with a number of revenue and spending measures for review and approval.

According to President Akufo-Addo, these steps will help the nation manage its issues by reducing spending in order to achieve fiscal sustainability.

The president stated, “I am optimistic that all these budgetary measures will go a long way to address the economic issues, along with the debt operations and the implementation of essential structural reforms to reduce the structural bottlenecks in the economy indicated in the 2023 Budget.

Ghana’s economy has been in trouble, and in July of this year, the government went back to the IMF to request a bailout.

The administration is considering acquiring a $3 billion lending facility to assist in resolving the nation’s economic crisis.

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