A Deputy National Communications Director for the New Patriotic Party (NPP), George Asante Krobea, has said that the economic measures outlined to tackle cedi depreciation and put economy back on track would take effect in 2023.
He explained that the measures have been duly captured in the 2023 budget and need time before results are achieved.
In an interview with Angel FM on the Anopa Bofo Morning Show, he said “the policies outlined by the president in his address does not take effect immediately …the 2023 budget would give clear details of what was said including the proposals made…the details of the measures would be captured in the 2023 budget”
His reaction comes after President Akufo-Addo addressed Ghanaians on the state of the economy to allay fears and give hope amidst the turbulent times citizens are facing.
The President in his address mentioned 12 policy measures targeted at tackling the cedi depreciation and putting the economy back on the track to recovery.
As part of the measures outlined, President Akufo-Addo pledged to restore debt sustainability by reducing debt to GDP to 55%, restoring macroeconomic stability through an IMF programme and tackle the high cost of living by stabilizing prices of petroleum products.
He also promised that there will be no hair cuts to treasury bill holders as well as a plan to reduce the importation of commodities like rice, poultry and vegetable oil.
The above-mentioned measures according to the NPP communicator will be catered for in the 2023 budget.
Asante Krobea commended the president for taking that bold step including the decision to slash budgeted discretionary expenditure by 30% and cutting down government appointees salaries by 30%.
He re-emphasized the president’s call for traders to be measured in their profit margins.
“As a patriotic citizen you don’t take advantage of a crisis to profiteer”, he pleaded.