Budget gives impetus to government's Better Ghana Agenda - Duffuor

Accra, Nov. 18, GNA - Dr Kwabena Duffuor, Minister of Finance and Economic Planning on Thursday said the 2011 Budget would give further impetus to the Government's commitment to create a "Better Ghana" for all= ..

"The NDC Government has done a lot in the two years that it has been= in office to restore macroeconomic stability and put the economy on a path o= f rapid and sustainable growth," he added. Dr Duffuor made the observation when presenting the 2011 Budget Statement under the theme: "Stimulating Growth for Development and Job Creation" to Parliament in Accra. He said inflation had been reduced to a single digit; interest rates=

were on a declining trend; the twin deficits of fiscal and current accoun= t had been reduced to acceptable levels; foreign reserves had increased significantly, which together had stabilised the value of the Cedi. "These are by no means a small feat in a period of two years, "he added. "The theme for this year's budget, 'Stimulating Growth for Developme= nt and Job Creation', is indeed appropriate. The 2011 budget puts Ghana on t= he right path to achieving accelerated economic growth and prosperity in an environment of stability."

"Indeed, the economy would grow rapidly in the coming years, support= ed by the scaling up of the disbursement of project loans and grants and utilising the new opportunities for higher growth that may accompany the downstream activities of the oil and gas industry," Dr Duffuor added. The Minister of Finance pointed out that significant resources had b= een deployed to modernise agriculture, boost manufacturing, provide critical infrastructure, improve the delivery of water, sanitation and electricity=

services, support the private sector to grow and become more competitive,=

and develop our human resource capability. "Government is also ensuring that the appropriate structural and institutional reforms take place so that the mixture of agriculture, manufacturing, mining, oil and gas provide a modern, dynamic and diversif= ied economy," he added. Dr Duffuor observed that government had kept its commitment to implementing the single spine salary structure, which was introduced by t= he New Patriotic Party (NPP) Government.

"The government is implementing the policy despite the obvious risks=

and challenges it poses to fiscal management in the country because of th= e positive impact it has on welfare and living conditions of employees in t= he public sector. This is a demonstration to the people of Ghana that, even in the face of serious resource constraints, the welfare of the people canno= t be compromised by the government. "The proposals I have tabled before the House seek to grow the Ghana= ian economy on a sustainable basis; create jobs to reduce unemployment; impro= ve household and business incomes to broaden the base of wealth creation; an= d improve the delivery of social services, including health care and access= to quality education, to improve the quality of life of the people of Ghana,= " he said. Dr Duffuor said "the year 2011 must see Ghana perpetuate hope in he= r people. I would like to assure my fellow Ghanaians that the NDC Governmen= t has placed the economy of this country on the path of sustainable growth and development, prosperity, stability and peace for the benefit of all."