Here are Major Economic Policies to Expect in the First 120 Days of President-elect, John Mahama

John Dramani Mahama, of the National Democratic Congress (NDC) is now the president-elect after polls, yesterday, following the concession of defeat by the major contender, the flagbearer of the New Patriotic Party (NPP), Dr Mahamudu Bawumia.

His declaration as the president-elect is pending the official approval of the Electoral Commission of Ghana.

With the possibility of the former President returning to the Jubilee House, Ghana’s economy is ‘set for a massive transformative change’ in his first 120 days in office. This is based on some commitments he made during the run-up to the crucial elections.

The former president, during his campaign period, noted that it is his vision if elected, to reset Ghana’s economy to alleviate the economic hardships, reverse inflation and stabilize the cedi.

Among a number of policies, Mr Mahama announced that his first 120 days will be very crucial since as the foundation for the reset agenda will be laid during the period.

Below are some economic policies that Ghanaians are expected to see Mr Mahama implement in the first 120 days after he has been sworn in as the president of the country.

1. Hold a National Economic Dialogue to discuss the true state of the economy and prepare a homegrown fiscal consolidation programme to guide the budget

2. Scrap E-levy, COVID levy, levy bet winnings, and emissions levy in the first 90 days

3. Review taxes and levies on vehicles and equipment imported into the country for industrial and agricultural purposes

4. Commence drafting needed legal amendments and prepare for the implementation of the 24-Hour Economy Policy

5. Establish an Accelerated Export Development Council to promote exports as part of a broader strategy for economic transformation

6. Allocate seed money for the establishment of the Women’s Development Bank

7. Launch the following priority job creation programmes in its first budget, Adwumawura Programme, National Apprenticeship Programme and One Million Coders Programme

8. Review the Customs (Amendment) Act 2020 to scrap the law banning the importation of salvaged vehicles to rescue the local automotive industry at Suame, Kokompe, and Abossey Okai.

9. Carry out a shakeup of all loss-making SOEs and realign them to break even and transition into profit-making.

With these policies and others, the new NDC government is optimistic that Ghana’s economy will be redirected to the path of transformation leading to growth, job creation and poverty alleviation.

As to whether he will be able to follow through with all these commitments to the letter as promised, only time will be the best judge. 

Source: The High Street Journal