Macro-economic gains stabilized the economy

Ho, Nov. 29, GNA - The macro-economic gains under Growth and Poverty Reduction Strategy One (GPRS I) from 2003-2005 stabilized the economy for growth rather than improvement in the standards of living. That period sought to and achieved correction of distortions in the economy and laid the foundation for growth and further poverty reduction hence Growth and Poverty Reduction Strategy Two (GPRS II) from 2006-2009.

This was announced by Mr Evans K.T. Kanfra, Principal Development Planning Officer of Planning Unit at the Volta Regional Co-ordinating Council (VRCC) at a public forum on the 2007 National Budget held at Ho. It was jointly organized by the Volta Regional Secretariat of Ghana National Association of Teachers (GNAT) and Integrated Social Development Centre (ISODEC).


Mr Kanfra spoke on the topic "The 2007 National Budget - Relevance of GPRS II to Economic Development".


He explained that GPRS II aimed at achieving a per capita income of 700 dollars, an increase in the current per capita income of 350 dollars was based on three pillars.


These were private sector competitiveness with modernized agriculture as the cornerstone, human resource development, good governance and civic responsibility.


Mr Kanfra said to achieve these required a lot of hard work, planning, focus and commitment by both the citizenry and Government to translate into improved productivity, the attainment of medium income status by 2015 and better living conditions for the citizenry. He said the attainment of a 1,000-dollar per capita income by 2015 was possible and that some economists maintained, "We could go beyond that if we are focused without politicking about development". Mr Kanfra said much would also depend on how well the country could manage its population growth.


Mr Valentine Agyei-Kumah, a Chartered Accountant speaking on the topic, "The pay reform programme a panacea for labour motivation and higher productivity", commended Government for its pay reform initiatives.

However, he cautioned that the initiative should not result in transplanting pay reforms of other countries into Ghana. Mr Agyei-Kumah, said "Success or failure would depend on circumstances like traditions, collective bargaining, attitude of unions, cultural factors, human resource management strategy as well as attitudinal change on the part of employees," adding 93The time is ripe for evolutionary change".


He said equity in pay was relevant in productivity as disparities whether real or perceived were disincentives to higher productivity and national development.


Mr Agyei-Kumah said there was the need for holistic approach to productivity enhancement with the various variables situated in their proper contexts.


He said "Cash gives the ability and discretion to command economic resources but non cash elements create self-worth, confidence and more importantly peace of mind to deliver on the job". Mr Agyei-Kumah said in Ghana where incomes were low and the need to meet daily commitments was paramount, pay equity and increases would play a major role in motivating public sector workers to attain high productivity.


However, he said there was the need for institutions established to implement pay reforms to be proactive and neutral arbiters and able to devise sustainable machinery of assessment of jobs and their equivalents. 29 Nov. 06