Thread by @tv3_ghana

📍The #Budget2020 reading, which will focus on consolidating gains made by gov't through its economic management over the 3-year period since assuming office, will be live on our platforms. But if you're stuck in traffic or away from your TV, we're giving full coverage of it here

"2019 has been a very good year for Ghana. It is a year one can confidently say that God has blessed our hard work and it is beginning to manifest. I say so because we have quietly achieved significant structural changes for the economy." - Ken Ofori-Atta

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"We have delivered on our flagship programs. The economy before @NAkufoAddo was suffocating, businesses were working to pay utility bills, the banks were not doing well, unemployment was high and businesses were not doing well - Ken Ofori-Atta

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@NAkufoAddo "2019 has been good for Ghana because when inflation slows down, everybody benefits. We can be proud of ourselves with the progress we have made as Ghanaians." - Ken Ofori-Atta

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@NAkufoAddo "Our competent government came in with a plan and we are delivering on that plan. Ghanaians were clear in what they voted in 2016. Ghanaians wanted better and quality leadership" - Ken Ofori-Atta

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@NAkufoAddo "1.9 million people have directly benefited under the Planting for Food and Jobs Program" - Ken Ofori-Atta

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@NAkufoAddo "20,000 students have been trained under the student entrepreneurship program" - Ken Ofori-Atta

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@NAkufoAddo "12,000 start-up businesses have received support from govt's entrepreneurship program" - Ken Ofori-Atta

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@NAkufoAddo "Government will make a strong push to drive our economic transformation forward." - Ken Ofori-Atta

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"GIPC will be better resourced with human and financial capital." - Ken Ofori-Atta

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"We are working towards improving Fintech and the knowledge economy base in Ghana" - Ken Ofori-Atta

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"Ghana remains one of the most stable and peaceful countries in the world and we intend to maintain it."- Ken Ofori-Atta

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"For the last 2 years, Ghana has been among the fastest economies in the world. Non-oil GDP increased from 4.6.% in 2017 to 6.5% in 2018 and projected to reach 6% in 2019 reflecting the impact of our flagship programs." - Ken Ofori-Atta

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"Ghana has not imported maize in the last two years." - Ken Ofori-Atta

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"We promised to move the economy from one focused on taxation to one focused on production and we've done that in three years" - Ken Ofori-Atta

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"We now have a banking sector that is well improved to help the flow of funds in the economy. For the first time in over two decades, the trade balance recorded a surplus." - Ken Ofori-Atta

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"Our government inherited an economy that had collapsed under the former administration and we've turned things around" - Ken Ofori-Atta

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"Total expenditure is projected at 8.5 billion cedis. Capital expenditure is projected at 9.3 billion cedis." - Ken Ofori-Atta

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"Total revenue and grants for 2020 is projected at 67.1 billion, representing 16.9% of GDP." - Ken Ofori-Atta

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"Government shall continue to provide the necessary support for the GRA in their ongoing reforms." - Ken Ofori-Atta

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"We have not imposed any new taxes. Govt will restructure and develop a comprehensive revenue policy." - Ken Ofori-Atta

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"The Ghana Revenue Authority occupies a critical position in the economy and is responsible for approximately 70 percent of domestic revenues." - Ken Ofori-Atta

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"I am pleased to inform this august house that Government Negotiating Teams have been constituted and are now close to completing the first round of bilateral consultation meetings with several IPPs, as well as project sponsors" - Ken Ofori-Atta

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"As part of the rationalization process, the Karpowership has been relocated to the Western Region and retrofitted to use gas, instead of HFO." - Ken Ofori-Atta

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"Government is fully committed to private sector participation in ECG and is focused on moving forward with urgency to find a suitable replacement for the PDS arrangements." - Ken Ofori-Atta

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"Considering ECG’s current distribution systems losses of 24% – comprising 13% commercial and 11% technical losses – Government is truly motivated by the urgent need to reduce these losses and improve service quality." - Ken Ofori-Atta

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"I am pleased to announce that government intends to initiate an accelerated tender process to select a new private partner for ECG in the coming months." - Ken Ofori-Atta

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"We have no doubt that a well-executed partnership between ECG and the right technical and financial partners, will certainly improve our distribution capabilities and enhance end-user experiences." - Ken Ofori-Atta

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"Govt will make every effort to avoid the pitfalls that the PDS concession encountered and institute broad Ghanaian institutional participation, as well as democratize local equity participation, with an eventual listing on the Ghana Stock Exchange." - Ken Ofori-Atta

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"Ghana remains committed to its relationship with the Millennium Challenge Corporation" - Ken Ofori-Atta

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"Government remains committed to the energy sector reforms, as envisioned under both the MCC Compact and the Energy Sector Recovery Program, developed with the support of the World Bank." - Ken Ofori-Atta

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"Banks are beginning to refocus on their core mandate of financial intermediation based on their strong capital base after the recent completion of the recapitalization exercise." - Ken Ofori-Atta

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"Even with fewer banks, asset growth within the banking sector in 2019 continues to be robust, underpinned by sustained growth in deposits and higher capital levels while credit has continued to recover compared to the same period last year." - Ken Ofori-Atta

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"Total assets have increased to GH¢115.2 billion at end August 2019 with only 23 banks." - Ken Ofori-Atta

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"Total deposits have improved from GH¢55.7 billion to GH¢76.0 billion over the same comparative period, reflecting a stronger deposit base owing to more trust and confidence in the banking sector with fewer but stronger banks." - Ken Ofori-Atta

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"It is important to note that although the clean-up exercises were completed quite recently there are already indications of improved performance within the SDI sector." - Ken Ofori-Atta

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"The central bank will continue to pursue policies and strengthen supervision to ensure that the banking sector remains well-capitalised, solvent, liquid and profitable." - Ken Ofori-Atta

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"Credit risk management practices and loan recovery efforts will be stepped up to minimize overall risks in the banking sector." - Ken Ofori-Atta

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"Over the past two years, the management of the Securities and Exchange Commission has worked on various reforms and appraised the state of operators in the industry." - Ken Ofori-Atta

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"The intervention by government to save depositors and investors whose funds were locked up with failed financial institutions has been very costly." - Ken Ofori-Atta

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"In 2017 and 2018, government spent a total GH¢11.7 billion to safeguard the deposits held by universal banks that were resolved by Bank of Ghana, and to set up the Consolidated Bank Ghana (CBG) Limited." - Ken Ofori-Atta

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"It is important to state that government has not under any circumstances intentionally collapsed any financial institution." - Ken Ofori-Atta

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"We acknowledge the pain and distress that has befallen depositors and investors, including pensioners, market women, churches who placed their confidence in these financial institutions." - Ken Ofori-Atta

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"All the insolvent banks whose licenses were revoked by BoG, were indigenous banks which had a contagious effect on the remaining indigenous banks; making it hard for them to raise additional capital." - Ken Ofori-Atta

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"CBG which was formed as a bridge bank to assumed the good assets of the 7 defunct local banks in August 2018 has made considerable process in term of paying depositors whose monies were locked up with these institutions." - Ken Ofori-Atta

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"We are confident that over the next months, the financial sector which is now on a sounder footing will expand considerably and new jobs will be created." - Ken Ofori-Atta

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"From 2020 Government will begin major interventions to boost private sector credit to support all segments of the business community" - Ken Ofori-Atta

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"We will like to emphasize that the ultimate solution to the job creation lies with the private sector." - Ken Ofori-Atta

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"The implementation of the Free Senior High School (SHS) policy, which provides opportunities for Ghanaian youth to gain access to secondary education has recorded significant enrollment numbers since its inception." - Ken Ofori-Atta

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"The total number of beneficiaries for the two cohorts has almost doubled from about 400,000 students in 2017 to 794,899 students at the end of the 2018/19 academic year, and it is projected to increase to 1,264,071 in 2020." - Ken Ofori-Atta

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"Govt will continue to invest in the education sector by providing adequate infrastructure, improving appropriate regulatory systems and incessantly building the capacity of teachers across the country to enhance quality human capacity development." - Ken Ofori-Atta

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"Our other focus, is on the expansion and upgrading of public tertiary institutions to absorb the high growth in student numbers." - Ken Ofori-Atta

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"True to our commitment to prioritising technical education, this week work has begun on the most comprehensive expansion and retooling exercise ever undertaken in this country’s history involving technical institutions." - Ken Ofori-Atta

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"When the NPP government assumed the administration of our beloved country, one of the biggest surprises we faced as government was the dire status of the financial sector. The banking sector was in total disarray." - Ken Ofori-Atta

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"We have so far spent close to GHȼ13 billion to provide various bailouts to the financial sector" - Ken Ofori-Atta

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"The Nation Builders Corp (NABCO) and the Planting for Food and Jobs programmes have both been very successful in generating employment and contributing to improved livelihoods for many Ghanaians." - Ken Ofori-Atta

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"Government employed and placed about 97,373 graduates under the Seven Modules of NABCO, across the country." - Ken Ofori-Atta

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"Government will continue to invest in sectors that seek to provide support for the poor and the vulnerable in order to improve the lives of our people." - Ken Ofori-Atta

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"We will continue to deliver projects such as rural markets, community clinics, toilet facilities, community potable water systems and classroom blocks, to improve the living standards of our people." - Ken Ofori-Atta

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"In 2020, we will continue with the implementation of all our 16 flagship programmes in order to transform the lives of Ghanaians." - Ken Ofori-Atta

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"The first batch of the free SHS students will be graduating in 2020. Government has released funds to pay for the WASSCE examination fees." - Ken Ofori-Atta

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"In 2020, government will continue with the payment of allowances to a projected number of 54,108 teacher trainees in all public colleges of education and 49,000 nursing trainees in public health training institutions." - Ken Ofori-Atta

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"Under the Agric modernization programme government will continue to supply organic and inorganic fertilizers and improved seeds to about 1.2 million farmers." - Ken Ofori-Atta

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"In 2020, government will continue to provide agricultural machinery and equipment including simple hand-held farm equipment to improve small scale farmers’ access to agricultural mechanization services." - Ken Ofori-Atta

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"In 2020, government will focus on identifying and supporting private sector business operators in the remaining 150 districts to expand the IDIF programme to districts where no promoter has shown interest as of now." - Ken Ofori-Atta

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"To accelerate the delivery of basic infrastructure needs of each constituency, a number of varying infrastructure projects such as culverts, small bridges, community centres, police posts, classroom blocks among others will commence in 2020" - Ken Ofori Atta

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"In order to ensure the country enjoys peace especially before and after the 2020 elections the Ghana Police Service will commence the construction of 70 prefabricated operational centres to improve community policing." - Ken Ofori-Atta

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"Faith-Based Organisations (FBOs) are key partners of government in national development. They significantly influence areas including education, health, social justice and the preservation of morality and ethics" - Ken Ofori-Atta

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"The interdenominational National Cathedral that will be located in the heart of the capital, stands to help unify the Christian community as a place of worship and promote the national conversation on the role of faith in building Ghana." - Ken Ofori-Atta

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"Work will also commence the following projects in 2020: Construction of Koforidua Regional Hospital and achieve 30 percent completion; Construction of University of Ghana Teaching Hospital (Phase II)" - Ken Ofori-Atta

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"In 2020, the Drone project will be rolled out nationwide to ensure that essential service such as blood and medical products delivery are extended to deprived areas of the country" - Ken Ofori-Atta

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"Under the Ghana Beyond Aid agenda, we aim for an accelerated economic transformation based on rapid and inclusive growth that will double our per capita income over a ten-year period." - Ken Ofori-Atta

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"Foreign Direct Investment has become an important component of economic growth globally. Accordingly, almost all nations compete to attract and retain FDI because of their potential to add value to the local economy." - Ken Ofori-Atta

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"For government, one of the cardinal principles in our economic transformation is to leverage technology wherever possible to innovate" - Ken Ofori-Atta

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"Government has successfully implemented a number of transformational initiatives at the heart of which is the National Identification system" - Ken Ofori-Atta

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"The introduction of National ID Cards is a game changer. When completed, it will form the basis of an integrated database with Passports, Tax Identification Numbers, Drivers’ Licenses and Pensions data." - Ken Ofori-Atta

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"Introduction of a paperless port system has eliminated the multiple layers of clearing agents, reduced the time to clear goods at the ports, and increased revenue mobilization" - Ken Ofori-Atta

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"We have set a digitization agenda to improve the efficiency of many government agencies" - Ken Ofori-Atta

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"Ultimately, our goal is to become a leading hub for ICT innovation in Africa." - Ken Ofori-Atta

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"We will aggressively pursue blended financing arrangements, leveraging funds from various sources including our development partners, philanthropists and private sector actors to finance mega infrastructure projects" - Ken Ofori-Atta

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"While macroeconomic stability is important, we are cognisant that it must ultimately translate into the well-being of Ghanaians in their everyday living" - Ken Ofori-Atta

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"Many parents were suffering because they could not afford to pay school fees for their children to attend senior high school.– thankfully Free SHS is here and has provided relief to them" - Ken Ofori-Atta

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"To reduce the suffering of the unemployed generally, we have recruited over 350,000 people in the public sector in the last three years including teachers, security services, nurses, NABCO, Forestry, etc" - Ken Ofori-Atta

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"Many children went hungry at school and thankfully we have expanded the school feeding programme by 500,000 children." - Ken Ofori-Atta

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"Thousands of our soldiers deployed for peace keeping were not going to have the kind of motivation they need to execute their job – and thankfully we have increased the peace keeping allowance from $31 to $35 per day" - Ken Ofori-Atta

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"By next month, all 275 constituencies will each have a functioning ambulance. This will increase the ambulances from 54 to 361, over 500% increase" - Ken Ofori-Atta

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"Free SHS has saved parents a total of GH¢1.8 billion with the last three years and that is money in their pockets" - Ken Ofori-Atta

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"Mr. Speaker the question that should be asked is: what social interventions did the NDC implement in their 8 years in office to reduce the suffering of Ghanaians?" - Ken Ofori-Atta

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"So far, we have constructed 200 out of 560 small earth dams in the five northern regions, in fulfillment of the “One Village One Dam promise." - Ken Ofori-Atta

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"A world class Digital Property Addressing system has been implemented and there is no location in Ghana without a digital address"- Ken Ofori-Atta

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"Today the cry everywhere in Ghana is about the poor state of our roads. It is an unprecedented cry and it makes you wonder where all the roads in the NDC’s Green Book are." - Ken Ofori-Atta

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"The first phase of the Sinohydro arrangement, is finally taking off. We have also been able to mobilize the financing for over 150 roads nation-wide." - Ken Ofori-Atta

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"It is clear from the foregoing that the government of @NAkufoAddo has worked hard over the last three years to deliver a substantial number of remarkable achievements which we are going to consolidate going forward." - Ken Ofori-Atta

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@NAkufoAddo "I submit to you the Nkosuo and Nkabom Budget." - Ken Ofori-Atta

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