PwC Ghana has urged the government to prioritize the implementation of budget measures to enhance private sector growth. Key discussions focused on the need for dialogue in the mining sector regarding sustainability levies, the small agricultural budget allocation, and the importance of creating supportive environments. Government officials reiterated their commitment to local enterprises and transforming the economy through targeted policies.
On March 19, in Accra, PwC Ghana urged the government to implement proposed budget measures to foster a supportive business environment and promote private sector growth. Mr. Vish Ashiagbor, Country Senior Partner at PwC Ghana, indicated that inefficiencies in policy execution have hindered the private sector’s potential as a growth engine. He emphasized that the focus should not only be on business-friendly budgets but also on their effective implementation moving forward.
Discussing the growth and sustainability levy, Mr. Ashiagbor suggested enhanced dialogue between the government and mining stakeholders to address concerns regarding increased levies and extended tenures that could impact investments. He advocated for mutual understanding between both parties to explore alternatives that could benefit the mining sector while balancing the government’s revenue needs.
Concerning agriculture, Mr. Ashiagbor noted that the allocated budget for this sector appeared minimal, especially considering its role as an economic pillar. He argued that the government’s role should not necessarily involve direct investment but rather creating conducive conditions for private sector success in agriculture. Initiatives such as agri-zones and industrialization policies are essential components of an ecosystem supporting agricultural growth.
Mr. Seth Tekper, a Presidential Advisor on the Economy, reaffirmed the government’s commitment to supporting local enterprises, particularly through strengthening the Exim Bank to boost value addition and export growth. He stressed the need to retain more value within the country to reduce import dependency.
Additionally, Goosie Tanoh, another Presidential Advisor, highlighted the government’s efforts to reform the economy and lessen reliance on imports through an accelerated export development program. This initiative not only aims to rein in imports but also seeks to transform the agricultural value chain, thereby creating sustainable jobs and ensuring long-term economic stability.
Lastly, the PwC Post-Budget Analysis offers an extensive review of the government’s fiscal proposals and their expected impact across various sectors, businesses, and the public at large.
The article highlights the call from PwC Ghana for the government to focus on effective implementation of budget measures to support private sector growth. It emphasizes the importance of dialogue between government and key sectors like mining and agriculture to create beneficial policies. Furthermore, the government’s commitment to enhancing local enterprise support and transforming the agricultural economy into a more sustainable framework is also underlined. Overall, these measures are essential for fostering a thriving economic environment in Ghana.
Original Source: gna.org.gh
