BY: JAMES DEKU
The Minister of Finance and Economic Planning, Dr. Kwabena Duffuor, has disclosed that whilst fiscal performance has met all the quantitative targets set for the first quarter this year, the main risk to the economy is the payment of public sector wages arising from the implementation of the Single Spine Salary Structure (SSSS).
Speaking at the 2012 Multi-Donor Budget Support (MDBS) and consultative group annual meeting, the minister however hinted that government has embarked on a payroll audit with the prospects of making some savings to help reduce the public sector wage bill by the end of the year.
The minister who expressed government‘s gratitude to development partners for accepting the MDBS and consultative group meetings as important process to guide and shape partnerships, indicated that Ghana, like many other developing countries, was not immune to the impact of the global financial and economic crisis and the associated slowdown in global economic activities.
Touting Ghana’s transition into a middle income status, the minister said this is as a result of a mutual and beneficial cooperation between the country and its development partners.
The World Bank country director for Ghana, Yusupha Crookes in his opening remarks indicated that general budget support is one of the key tenets of Ghana’s aid policy and strategy.
He said as partners, it will continue to strive fully with the country’s preference and all the sound reasons discussed over the years.
He added that channeling development support through Ghana Business School, GBS, underpins full country ownership and leadership of development strategy and priorities, promotes country control of development resources and its allocation to drive the achievements of development objectives.
The theme for this year’s meeting is “Leveraging Partnership in a Transitional Middle Income Country for Sustainable Economic Growth and Development.” MDBS issues that have been slated for discussion includes the 2011 results of the annual progress report of the GSGDA, MDBS Progress Assessment Framework (PAF) and assessment of MDBS underlying principles.
In addition will be presentations on four important topics-the MDGs and Equity, Infrastructure, Private Sector Development and Capacity development.
The Minister of Finance and Economic Planning, Dr. Kwabena Duffuor, has disclosed that whilst fiscal performance has met all the quantitative targets set for the first quarter this year, the main risk to the economy is the payment of public sector wages arising from the implementation of the Single Spine Salary Structure (SSSS).
Speaking at the 2012 Multi-Donor Budget Support (MDBS) and consultative group annual meeting, the minister however hinted that government has embarked on a payroll audit with the prospects of making some savings to help reduce the public sector wage bill by the end of the year.
The minister who expressed government‘s gratitude to development partners for accepting the MDBS and consultative group meetings as important process to guide and shape partnerships, indicated that Ghana, like many other developing countries, was not immune to the impact of the global financial and economic crisis and the associated slowdown in global economic activities.
Touting Ghana’s transition into a middle income status, the minister said this is as a result of a mutual and beneficial cooperation between the country and its development partners.
The World Bank country director for Ghana, Yusupha Crookes in his opening remarks indicated that general budget support is one of the key tenets of Ghana’s aid policy and strategy.
He said as partners, it will continue to strive fully with the country’s preference and all the sound reasons discussed over the years.
He added that channeling development support through Ghana Business School, GBS, underpins full country ownership and leadership of development strategy and priorities, promotes country control of development resources and its allocation to drive the achievements of development objectives.
The theme for this year’s meeting is “Leveraging Partnership in a Transitional Middle Income Country for Sustainable Economic Growth and Development.” MDBS issues that have been slated for discussion includes the 2011 results of the annual progress report of the GSGDA, MDBS Progress Assessment Framework (PAF) and assessment of MDBS underlying principles.
In addition will be presentations on four important topics-the MDGs and Equity, Infrastructure, Private Sector Development and Capacity development.
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