GOVERNMENT TO IMPROVE ECONOMY -- DR. KWABENA DUFFOUR
The Minister of Finance and Economic Planning, Dr. Kwabena Duffour has informed the House about Government plans to stimulate productivity and the economic growth through stabilizing the macro economics and providing a more certain operating environment for firms.
Dr. Kwabena Duffour was responding to question filed by the MP for Akim Swedru, Hon. Joseph Ampomah Bosompem who sought to know about the practical measures Government is taking to stimulate productivity and economic growth.
The Minister added that the rapid depreciation of the Cedi against the US Dollar, in spite of the pressures from the Christmas festivities in December, is an indication of the Government’s effort to stimulate economic growth.
Dr. Duffour added that the provisional data show that the fiscal deficit has dropped from 14.5% as at the end of December 2008 to less that 10% in December 2009.
With the increase in productivity, he said Government has put in place measures to improve productivity in the selected food commodities, small remnants and fisheries sector. A buffer stock management agency is being constituted to ensure food security and intervene in the markets to ensure competitive prices are paid to farmers.
Hon. Joseph Ampomah Bosompem further asked the Minister what practical measures the Government is putting in place to stimulate private sector productivity.
The Minister, who responded, reiterated Governments intention to continue to undertake initiatives to enhance competence and capacity at the firm level. This will include provision of business support and training, extension of micro credit, venture capital and export credit facilities to small, medium and micro business.
He assured the House that Government is implementing policies aimed at ensuring that the environment in which the private sector operates will facilitate sound decision making which will lead to overall economic growth.
The Minister of Food and Agriculture, Hon. Kwabena Ahwoi was also in Parliament to respond to some questions concerning his Ministry.
A question which stood in the name of Hon. Gabriel Kodwo Essilfie, MP for Shama sought to enquire when the legislative instrument for the enforcement of the ban on the use of light, carbide, DDT, dynamite and other explosives for fishing in our territorial waters will be laid before Parliament.
Hon. Kwamena Ahwoi explained that when the first draft fisheries regulation was laid before Parliament it was rejected because there was no Fisheries Commission to give it consent as provided in the statutes. The current Fisheries Commission is therefore organizing a three day participatory meeting by all stakeholders on the draft (L.I.2010) to validate its contents. After the workshop the Commission will submit the document with its amendments for Cabinet approval and subsequently, lay it before Parliament.
Sitting resumes tomorrow.
