Ghana's Finance Minister, Dr. Cassiel Ato Forson, has announced plans to propose changes to the country's procurement laws. The proposed changes aim to require individuals and organizations spending public funds to purchase food from Ghanaian farmers. This move is part of the government's efforts to support local farmers and create jobs. Dr. Forson emphasized that government money must be used to benefit Ghanaian farmers and create employment opportunities for citizens.
The Finance Minister made the announcement on his social media platform, highlighting the importance of supporting local farmers. He stated that the proposed changes will ensure that public funds are used to promote Ghanaian agriculture and create jobs. This initiative is expected to have a positive impact on the country's economy. Dr. Forson's proposal is part of the government's efforts to transform the economy, as announced in the 2027 Budget.
Dr. Forson recently met with the leadership of the Association of Ghana Industries and leading captains of industry. During the meeting, he urged businesses to invest in Ghana with confidence, assuring them that the government will sustain the gains made in stabilizing the economy. The Finance Minister emphasized that the government's new blueprint for economic transformation will be announced in the 2027 Budget. He expressed optimism about the country's economic prospects, stating that the "golden era for Ghana is beginning."
The government's new blueprint for economic transformation aims to move Ghana from stability to transformation. Dr. Forson noted that the substantial improvements in the macroeconomic environment will be protected and strengthened. The 2027 Budget will outline the government's plans for economic transformation, including initiatives to promote investment and job creation. The Finance Minister emphasized that the government is committed to creating a favorable business environment.
President John Dramani Mahama has announced plans to invest $10 billion in strategic sectors over the next four years. Dr. Forson stated that the government wants to increase production, add value, and create more jobs for the Ghanaian economy. This initiative aims to address the fundamental challenges facing the country. The government has deliberately reduced the cost of capital and will continue to work to drive it down further to support business expansion and investment.
Dr. Forson called on industry leaders to support domestic revenue mobilization to reduce the government's reliance on excessive borrowing. He emphasized that the government needs the support of industry leaders to raise the necessary revenue and avoid borrowing beyond its means. The Finance Minister cited the 2022 experience, where the government's borrowing exceeded its means, as an example of the need for responsible financial management.
The proposal to change the procurement laws is part of the government's efforts to promote local agriculture and create jobs. Dr. Forson's initiative aims to ensure that public funds are used to benefit Ghanaian farmers and create employment opportunities for citizens. The government's commitment to supporting local farmers and promoting investment is expected to have a positive impact on the country's economy.
Key points
- The Ghanaian government plans to propose changes to procurement laws to require public funds to be spent on food from local farmers.
- The proposed changes aim to create jobs and boost the economy by supporting local farmers.
- The government's new blueprint for economic transformation will be announced in the 2027 Budget.
