Regional News Fri, 2 Jan 2004

Govt lauded for its difficult but pragmatic economic decisions

Ho, Jan 2, GNA - The Agbogbomefia of Asogli, Togbe Afede the XIV, has commended the government for its difficult but pragmatic economic decisions, which have assisted in removing distortions in the economy. He urged the authorities to build upon the achievement towards attaining "greater prosperity as an important ingredient for peace and stability" in the country.

In a New Year message released to the Press at Ho, Togbe Afede said "the leap forward, towards a population-adjusted growth rate of about seven-and-a-half percent to double the present per capita income of 400 dollars in ten years, requires even bolder decisions".

The Agbogbomefia who is also Chief Executive Officer (CEO) of Strategic African Securities (SAS) Limited, said the country required "a new scientific framework of economic management based on accurate, timely and publicised information in order to maximise growth." Togbe Afede urged government to tackle the problem of high interest and corporate tax rates and import duty on raw materials to enable local industries to grow and create more jobs.


He said the expected change in the "economic map" of the West Africa sub-region in 2005 with the introduction of a single currency has important ramifications for the country for which education of the citizenry "must start now".

Togbe Afede called on Ghanaians to work hard since over-reliance on government and foreign donors would not bring about the desired prosperity.

He said: "I want to remind all of us that poverty is not God's desire for any race". Ultimately we have to be responsible for our own happiness".

Source: GNA