Government’s performance in non-oil sector is positive – Dr. Mahama

Technical advisor to the vice president, Dr. Tiah Abdul-Kabiru Mahama says the government’s performance in the non-oil sector is commendable following an improvement.

Dr. Mahama indicated that government has performed 39% in non-oil sector which means that there is massive revenue generation improvement.

Speaking in an Interview on Metro Tv on Good Morning Ghana on August 1, 2023, the technical advisor to the vice president highlighted the positives in the Mid-year budget read by Finance Minister, Ken Ofori Atta.

“The government noted that on the revenue side, we had performed less than our target by some 9 billion because at the time the buyer was prepared. We use your oil revenue around $88 per barrel and now into the year, you are doing something like 70%, 74% virtually your revenue will not come as expected. But the good news is that we have performed about 39% in revenue improvement in the non-oil sector.

That is we are generating more revenue. Some 42 billion in additional revenue has been wrecked through this nonformal, I mean non-oil. so that is the positive

The commodity market is likely to affect your performance and is going to affect your macroeconomic indicator. So when the government is performing in non-oil sector, it is something positive for the economy.

Government has to increase revenue raking in measures, government has to control expenditure in order to achieve such feed. So the Minister already doing 1.2% in the first half year of 2023 means that the Finance Minister is working or the managers of the economy are working seriously to stabilize the economy,” Dr. Mahama remarked.

He further indicated that the government is doing well in terms of inflation even though it is working assiduously to reduce the rate to the minimum to alleviate the plight of Ghanaians.

“The Finance Minister on the macro-fiscal noted that inflation is stabilizing.

December, when we had the height of the program, we were doing an inflation rate of around 54%. Now we are experiencing the heat at a far reduced rate, degrees or Celsius if you like. Because if you were having an inflation rate of 54% and the government is working to reduce and even 42% is not yet acceptable and the Prime Minister will be the first person to admit that an inflation rate of 2% is not something to celebrate, but it is a testament that there is on a path to recovery,” Dr. Mahama said.

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BS/WA