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GHANAS AGENDA FOR SHARED

GROWTH AND DEVELOPMENT, 2010 -2013

MR. P. V. OBENG
CHAIRMAN, NDPC
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OUTLINE

BACKGROUND

POLICY CONTEXT AND STRATEGIC DIRECTION

THEMATIC AREAS
Ensuring and Sustaining Macroeconomic Stability
Enhancing Competitiveness in Ghanas Private Sector
Accelerated Agricultural Modernisation and Sustainable Natural
Resource Management
Oil and Gas Development
Infrastructure, Energy and Human Settlements Development
Human Development, Productivity and Employment
Transparent and Accountable Governance
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BACKGROUND

Since Ghana attained independence in 1957,


successive Governments have pursued, with varying
degrees of success, policies, programmes and projects
to accelerate the growth of the Ghanaian economy and
raise the living standards of the people
In 1995, Government presented to Parliament the
Coordinated Programme of Economic and Social
Development Policies with the theme, Ghana: Vision
2020, aimed at making Ghana a middle-income
country in 25 years.

The First Medium-Term Development Plan (1997-2000)


based on Vision 2020 focused Human Development,
Economic
Growth,
Rural
Development,
Urban
Development, Infrastructure Development, and an
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Enabling Environment as priorities.

BACKGROUND

The Ghana Poverty Reduction Strategy (GPRS I) and the


Growth and Poverty Reduction Strategy (GPRS II) are
the latest of such national development policy
frameworks.
Under GPRS I and GPRS II substantial progress was
made towards the realisation of macroeconomic stability
and the achievement of poverty reduction goals.
However,
structural
challenges
also
emerged,
characterized by large fiscal and balance of payment
deficits. In order to provide a successor medium- term
national development policy framework to the GPRS II
(2006 2009), the Ghana Shared Growth and
Development Agenda document is being prepared, to be
implemented over the period 2010 2013.
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THE POLICY CONTEXT

Despite the significant improvements in the performance


of the economy in the last two decades, there remain a
number of macroeconomic and structural challenges that
limit the capacity of the economy to achieve sustainable
improvements in the livelihoods of the people.

These include large fiscal and balance of payment


deficits; inability of the gains in economic growth to
reflect in major improvement in productivity; overreliance on the production of primary commodities
without sufficient linkages to other sectors of the
economy; over-reliance on rain-fed agriculture; low
application of science, technology and innovation; and
relatively high geographical disparities in poverty arising
out of the inability of the increasing growth rates to be
accompanied by reduction in inequalities.
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STRATEGIC DIRECTION
In the medium-term, the strategic direction will be
to
lay
the
foundation
for
the
structural
transformation
of
the
economy
through
industrialisation especially manufacturing, based on
modernised agriculture and sustainable exploitation
of Ghanas natural resources, particularly minerals,
oil and gas.
The process will be underpinned by rapid
infrastructural and human development as well as
the application of science, technology and
innovation. This will enhance the creation of
employment and income earning opportunities for
rapid and sustained poverty reduction.
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STRATEGIC DIRECTION
The strategy will entail:

improved enabling environment to empower


the private sector;
active collaboration between the public and
private
sectors,
including
public-private
partnerships and civil society organizations;
active
Government
interventions
where
appropriate;
transparent and accountable governance and
efficiency in public service delivery at all levels;
and
effective decentralisation for enhanced local
economic development
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STRATEGIC DIRECTION

In this regard, expenditure will be prioritized


in favour of policies, programmes and
projects in the following areas:
Agriculture
Infrastructure (including energy, oil and
gas)
Water and sanitation
Health
Education
ICT, Science, Technology and Innovation
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The transformation of the economy will be anchored on


the following thematic areas:
Ensuring and sustaining macroeconomic stability;
Enhancing competitiveness in Ghanas Private Sector;
Accelerated Agricultural Modernisation and Sustainable
Natural Resource Management;
Oil and Gas Development;
Infrastructure, Energy and Human Settlements
Development;
Human Development, Productivity and Employment;
and
Transparent and Accountable Governance.

Ensuring and sustaining Macroeconomic Stability

This policy framework will focus on addressing,


among other things, the macroeconomic challenges
that had emerged at the end of 2008.
Fiscal policy will be shaped by the need to scale back
the fiscal deficit over the medium term to create
fiscal space for increased spending on critical
infrastructure, job creation and poverty reduction.
Macroeconomic policy will also focus on improving
fiscal resource mobilization; improve public resource
management including oil and gas resources;
promoting effective debt management; ensuring
price and exchange rate stability; and deepening the
capital markets.
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Enhancing the competitiveness of the private sector

The key strategic objectives under this


thematic area are: improving the investment
climate; reducing the cost and risk of doing
business; providing modern, efficient and
competitive infrastructure; creating the
financial sector which is responsible to the
private sector; and making available human
resources
with
relevant
skills
and
competences

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Accelerating Agricultural Modernization and Natural


Resource Management

The overall objectives of the agricultural


development policy is to use science,
technology and innovations to accelerate
agricultural
modernization
to
increase
agricultural productivity, enhance food
security, create employment opportunities,
and increase agricultural export earnings;
strengthen the linkages between agriculture
and industry; and reduce risk in agricultural
production and marketing.
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Oil and Gas Development

Ghanas transition
represents one of
countrys social
independence.

to
the
and

an oil producing country


most critical tests for the
political structure since

The key strategic objectives under this thematic area


include: ensure the development of oil and gas
industry and its effective linkage to the rest of the
economy; converting the opportunities offered by the
Oil and Gas industry to create decent jobs; ensuring
that the practices of the Oil and Gas industry are
consistent
with
international
standards
of
environmental sustainability; and strengthening the
capacity of local financial institutions to compete
with their foreign counterparts for opportunities in
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the sector.

Infrastructure, Energy and Human Settlement

The government recognizes that without well


developed infrastructure, the goal of achieving
accelerated economic growth to reduce poverty in
the country cannot be achieved.
Over the medium term therefore, government will
invest massively in infrastructure development,
including human settlement development; water,
environmental sanitation and hygiene; transport
infrastructure; science, technology and innovation;
and information and communication technology
(ICT) development.
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Human Development, Productivity and Employment


Government recognizes the importance of human
development in national development.
The
government also understands the economic and
social costs associated with unemployment.
Over the medium term, the government will
therefore pay more attention to human development
and
employment
creation.
Education,
youth
development,
sports
development,
health,
population management, migration for development,
productivity, employment, social protection, poverty
reduction, and minimizing income inequality are the
focal areas that will receive serious attention.
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Transparent and Accountable Governance


Over the medium term, government policies in the
areas of governance will focus on strengthening
democracy and institutional reform;
local
governance and decentralization; economic growth
and plan coordination in special development areas
to reduce poverty and inequality; public policy
management and public sector reform; women and
governance; corruption and economic crime; rule of
law and justice; public safety and security; access to
rights and entitlements; national culture for
development; domestic and international relations;
migration for development; and evidence-based
decision making.
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THANK YOU !!!

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