The Private Enterprise Federation (PEF) on 13th December 2017 in collaboration with GIMPA organized a stakeholder forum to review the 2018 budget Statement and Economic Policy of the Government of Ghana. This is the 4th in a series of post budget review forums organized in collaboration with GIMPA School of Public Studies and Governance (GIMPA-SPSG).
Speaking on behalf of the private sector, the Chief Executive Officer of the Federation, Nana Osei-Bonsu urged the government to enhance the involvement and define more clear terms the role of the domestic private sector in the implementation of the various policies and programmes to promote inclusive development.
The senior tax expert at Ikern and Associates, Mr. Isaac Nyame was of the view that even though the government has a lot of commitments, the budget is leaned more towards the creation of a friendly business environment than being pro-tax.
Dr. Samuel Nii Noi Ashong, a former Minister of State in- charge of Economic Planning in his economic analysis commended government for the bold efforts made in 2017 but added that much progress remains to be done going forward. He also indicated the need to address a few technical issues more expressly regarding measurement of some of the targets and more clarify the definition of others to guide performance assessment and evaluation in the future.
The event was chaired by the Governor of the Bank of Ghana, Dr. Ernest Addison. Dr. Addison stressed on some policies the Bank is putting in place to strengthen the financial sector in Ghana and their ability to lend to the private sector at a lower interest rate. He added that some tax proposals in the 2018 will inure to the benefit of private sector businesses and urged them to take due advantage accordingly.
The event was sponsored by Fidelity Bank Ghana and Good Governance Africa (GGA).