Business Confidence In Economy Still Stable � Seth Terkpe

A Deputy Minister of Finance and Economic Planning, Seth Terkpe says business confidence in the country�s economy will see a significant improvement following a successful general election. Contrary to what many financial analysts predicted regarding the performance of the cedi during the election year, the cedi has appreciated against its trading currencies thereby increasing the investor confidence in the Ghanaian economy. Speaking on Gold Power Drive on Monday, Mr. Seth Terkpe maintained that the business environment has been stable throughout the election period adding that businesses benefited from political campaigns such as billboards, party paraphernalia and media advertisements. According to him, election expenditure affected the economy but ended up creating jobs for the local people. He hopes the single digit inflation chalked by the ruling National Democratic Congress (NDC) will be maintained with the help of the Ghana Revenue Authority (GRA). The Deputy Minister of Finance also added that oversubscription of the 5 year government bond in an election year shows the confidence both domestic and expatriate businesses have in the Ghanaian economy. He said government will concentrate on expanding the oil and gas sector, agriculture, the Savannah Accelerated Development Authority (SADA) and infrastructural development to boost the economy of the country. Mr. Seth Terkpe further asserted that government through the Private Sector Consultative Council will instill entrepreneurship in the youth to raise the standard of living in the country.