Better Ghana budget to focus on infrastructural development
The thrust of Finance Minister, Dr. Kwabena Dufuor’s budget statement, yesterday was on infrastructural development. In government’s opinion, the country’s middle income status requires faster upgrade of its infrastructure to meet growing demand for goods and services.
The 2012 budget statement titled “Infrastructure development for action growth” highlights upgrade of various facilities in the year 2012.
Four key areas to benefit from the 2012 budget include electricity, oil and gas; water and sanitation; railways, roads and ports and health, education and agriculture.
According to the sector minister, the $three billion loan secured from the China Development Bank last August will be used to fund the various projects, with a major chunk of it to be spent on the development of the Western Region of Ghana.
It is also expected that 80 per cent of the loan will be expanded on areas such as the railway system, road infrastructure, the aluminium industry as well as a developmental facelift in the major satellite oil areas of the region.
Whilst government is also anticipating additional inflows from its development partners for upgrade in electricity and health sectors, it has finalized a Medium-Term National Development Policy Framework (Ghana Shared Growth and Development Agenda 2010-2013) to affirm its commitment to build better infrastructure as a catalyst for an accelerated economic growth and development.
A Public Private Partnership policy has also been initiated by government to promote and attract private sector investments in support of infrastructure and other sector development strategies.
By: e.tv Ghana
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