A member of the National Economic Dialogue Committee, Prof. John Gatsi, has confirmed that key recommendations will influence Ghana’s upcoming national budget, set to be presented on March 11.
In an interview, Prof. Gatsi explained that while President Mahama’s State of the Nation Address (SONA) provided a broad overview of the country’s economic landscape, the finance minister’s budget presentation will deliver in-depth insights, particularly on debt management and fiscal policies.
“The President’s SONA gave a qualitative perspective on several economic issues, but the finance minister will provide detailed explanations on why we are in this situation, especially in terms of debt management,” he stated.
He emphasised that effective debt management goes beyond reporting debt figures—it involves strategic approaches, mechanisms, and institutional frameworks designed to ensure economic stability.
Prof. Gatsi also pointed out that the budget will address broader fiscal issues beyond the debt-to-GDP ratio, offering a comprehensive analysis of Ghana’s economic position.
“When we talk about fiscal matters, it’s not only about the debt-to-GDP ratio; there are deeper fiscal indicators that will tell the full story. I believe that’s what the Finance Minister will elaborate on,” he added.
While some recommendations from the National Economic Dialogue will be incorporated into the budget, Prof. Gatsi noted that others will serve as guiding principles for long-term structural reforms and economic policies.
“Certain issues will be reflected in the budget, but others relate to structural adjustments and long-term economic strategies. That’s why the president’s address not only highlighted challenges but also emphasized the opportunities they present,” he explained.
His remarks underscore the crucial role the National Economic Dialogue has played in shaping Ghana’s fiscal direction, with its recommendations expected to influence both immediate and long-term economic policies.
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