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23.05.2006 General News

Govt would continue with sound Management of Economy

By GNA

Accra, May 23, GNA - Government would continue with the prudent and sound management of the economy to ensure that the business environment was predictable to allow private sector operators to plan their operations.

Professor George Gyan-Baffour, Deputy Minister of Finance, on Tuesday said, the Government would create the enabling environment to help all economic actors to increase their productivity and to become competitive players in the sub-regional and global markets.

"It is only through such efforts that the well being and the quality of life of our citizens will be enhanced," he said.

Prof Gyan-Baffour was addressing the opening session of the Accountants Conference as part of activities marking this year's celebration of the Accountants=92 Week of the Institute of Chartered Accountants (Ghana) being celebrated on the theme: "Wealth Creation, National Challenge."

Apart from creating a conducive business environment, the Deputy Minister said the Government would also evolve better governance structures and systems to reduce the cost of doing business and improve on the performance in the public service to effectively support the private sector by removing obstacles that caused delays in business operations.

In addition, the Government would also team up with the private sector with the ultimate goal of off-loading its interest when the project became viable.

Professor Gyan-Baffour said the important issue for Ghanaians now was to stop excessive politicking and contribute to the creation of wealth to improve the economy and reduce poverty.

He charged the accountants to ensure integrity in their work and to help to minimize the leakages that the economy suffered through dubious reporting of accounts, ghost names on payrolls and tax evasion practices.

Prof Gyan-Baffour said the Government would continue to rely on professionals to provide the leadership in every sector of the economy to help the country's drive towards the attainment of a middle-income status by 2015.

Professor Nana Ato Ghartey, Vice President of ICA, said the accounting profession transcended the field of dealing only with figures to areas of governance, poverty reduction and wealth creation as well as in policy formulation, implementation and evaluation. He said the conference would deliberate on the role of the Government, private sector and the donor community in efforts at wealth creation.

Prof Ghartey said wealth creation was a global challenge even to developed economies and expressed the hope that the conference would be able to find solutions to how to create wealth to boost economic growth.

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