Business News of 2013-12-09

‘Ghana strong with impressive GDP’

The Member of Parliament (MP) for Keta, Mr Richard Quashigah, has stated that in spite of challenges Ghana faced last year, it came out strong within the West African community with an impressive Gross Domestic Product (GDP) growth rate of 7.4 per cent.

“Many people have seen the glass half empty, but there is a clear indication that those who are very optimistic see the glass half full and it is the reason for which one will say that we performed impressively in 2013.”

Contributing to the just-ended debate on the 2014 budget in Parliament, Mr Quashigah said the 2014 budget was not only transformational but a visionary budget which had done a critical analysis of the situation of 2013 and made very realistic projections into the future.

Mr Quashigah said in a very bold and incisive manner, the 2014 budget intended to create jobs as a result of the Infrastructural Fund that would be established.

What it means therefore is that a lot of young people would be employed when infrastructure activities take place as a result of the creation of the fund.

The MP said the creation of the Small and Medium-Scale Enterprises Fund would be a strong support for the private sector.

This budget “is private sector driven and it is a panacea for the jobless situation that people have been crying about.”

Mr Quashigah added that the stimulus packages being created in the education sector for poultry farmers among other things showed that there was hope.

Mr Quashigah said oftentimes, people talked about the country’s wage bill, and explained that if one compared the GH¢10 billion that was spent by the government on wages to the GH¢2.5 billion spent in 2008, one would conclude that the government was resilient.

He commended the President for putting in place a number of measures to curb corruption.