2023 budget will address economic challenges – Akufo-Addo

He mentioned that various measures have been adopted by the government to ramp up efforts in addressing challenges confronting the agriculture sector.

“The 2023 Budget presented to Parliament by the Minister for Finance seeks to address these economic challenges through several tough but necessary measures. These measures include a debt operation to address our fiscal and debt sustainability concerns.

“Debt operations alone will not be enough to address the debt sustainability concerns. For this reason, we are complementing the debt operations with fiscal adjustments, through improvement in revenue collection and expenditure rationalization measures, to promote debt and fiscal sustainability. This is why the Minister for Finance outlined several revenue and expenditure measures for the consideration and approval of Parliament.”

These measures, President Akufo-Addo said, will help reduce spending towards fiscal sustainability as the country navigates through its challenges.

“I am optimistic that all these fiscal measures, together with the debt operations and the implementation of key structural reforms to eliminate the structural bottlenecks in the economy outlined in the 2023 Budget, will go a long way to address the economic challenges,” the president assured.

Ghana’s economy has been ailing, with the government returning to the International Monetary Fund in July this year to secure a bailout.

The government is looking at securing a $3 billion loan facility, to help restore the economic crisis in the country.