According to him, the over 20 percent rate banks lend to individuals and entities is on the high side and discourage many from venturing into a productive business.
Ghana’s President, Nana Addo Dankwa Akufo-Addo has urged the governor of the Bank of Ghana to take a second look at the current prevailing interest rate in the country.
Ghana’s President, Akuffo- Addo directs the central bank to review the country’s interest rate downwards
President Akuffo Addo said this while addressing the maiden government CEO forum.
He outlined a seven-point pillars government has adopted to address the concerns of the private sector and make them competitive.
Adding that the recent clean up by the central bank has made the sector safe and sound.
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the recent clean up by the central bank.
Meanwhile, Finance Minister Ken Ofori-Atta has disclosed that the 2020 Budget would focus on sustaining gains made over the past three years.
According to him, this should mean the 2020 Budget would look at sustainable stability and security.
The budget would also “make sure that the uncompleted roads and ongoing flagship projects are done as well and improve the country’s export drive as well” the minister added.
The Minister also talked about using the 2020 budget to improve Ghana’s export drive, tax reforms, reviewing tax exemptions, and things that would put the country on a growth strategy and create the required jobs in the country.
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He is expected to present the 2020 budget to Parliament on November 14, 2019.
