Since my appearance before this august House in November 2013, several developments in the economy-particularly the sharp depreciation of the cedi in the first quarter of 2014, rising interest rates, and the adverse global environment on commodity prices, have posed challenges to the achievement of the 2014 economic programme.
However, it is the resolve of Government to strengthen the measures outlined in the 2014 Budget to enable our country confront these essentially short-term challenges and meet our development goals.
Following the President's State of the Nation Address, the nation listened attentively to the spirited debates and issues raised by Honorable members of Parliament around the challenges and prospects of our country. Honorable members maintained a nationalistic and informed posture in addressing the major themes of His Excellency’s address to the House.
Similarly, business leaders, civil society, social and development partners have raised pertinent issues regarding economic management and implementation of various policies. Mr. Speaker, in managing the economy, we shall be guided by several of these inputs.
Mr. Speaker, this particular Statement is dedicated to the consolidation efforts of government and demonstrates cumulative policy consistency of all the measures since 2013 to bring our fiscal situation under control.
Several of the measures are structural and address the medium-term prospects of the country. As will be shown, the measures are far-reaching and it is our expectation that they will clarify the commitment of Government and the people of Ghana in bringing the imbalances that have occurred in recent years under control.