{"id":80078,"date":"2025-07-24T14:04:26","date_gmt":"2025-07-24T14:04:26","guid":{"rendered":"https:\/\/sotnews.agency\/?p=80078"},"modified":"2025-07-24T14:04:26","modified_gmt":"2025-07-24T14:04:26","slug":"mid-year-budget-will-rebuild-domestic-confidence-prof-khalid","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=80078","title":{"rendered":"Mid-year budget will rebuild domestic confidence- Prof Khalid"},"content":{"rendered":"<div class='booster-block booster-read-block'>\n                <div class=\"twp-read-time\">\n                \t<i class=\"booster-icon twp-clock\"><\/i> <span>Read Time:<\/span>2 Minute, 29 Second                <\/div>\n\n            <\/div><div>\n<p>Professor Sharif Mahmud Khalid, Economic Advisor at the Office of the Vice President, says he is confident that the upcoming Mid-Year Budget Review will serve as a catalyst to restore domestic confidence and revitalise Ghana\u2019s economy.<\/p>\n<p>Speaking on <em>JoyNews\u2019 Super Morning Show<\/em> on Monday, Prof. Khalid underscored the importance of the supplementary budget in rebuilding investor trust locally.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cDomestic confidence \u2014 that\u2019s where I see the supplementary budget playing a big role. It\u2019s about helping Ghanaians feel secure enough to invest again in the local market,\u201d he explained.<\/p>\n<\/blockquote>\n<p>Since the main budget was read in March, Prof. Khalid said government\u2019s focus has been on establishing financial stability and cooling the overheated economy it inherited from the previous administration.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe\u2019ve been operating within a tight spending envelope. The March budget was aimed at restoring macroeconomic stability and managing the excesses we inherited.\u201d<\/p>\n<\/blockquote>\n<p>He noted that key indicators such as the exchange rate and fiscal discipline have shown marked improvement.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe cedi has stabilised significantly. Internal controls have been tightened, and government spending is being capped to create the financial space needed to implement strategic programmes.\u201d<\/p>\n<\/blockquote>\n<p>Prof. Khalid also reminded the public of the economic challenges inherited by the current government \u2014 including disruptions to pension funds and other blue-chip investments during the domestic debt exchange programme.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe must remember the context. Pensions and other key investments were affected, but those tough decisions helped stabilise the economy.\u201d<\/p>\n<\/blockquote>\n<p>He highlighted the government\u2019s approach as a balancing act \u2014 pursuing transformational projects while ensuring financial discipline.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe\u2019re pushing big-ticket initiatives like the Women\u2019s Development Bank and the 24-Hour Economy, but we\u2019re doing so carefully, making sure the economy cools before we try to turn the corner.\u201d<\/p>\n<\/blockquote>\n<p>Warning of the risks of overheating, he added:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIf the economy remains overheated, we can\u2019t make the structural changes we aim for. This review is about showing what\u2019s been done since March to stabilise things.\u201d<\/p>\n<\/blockquote>\n<p>On the broader outlook, Prof. Khalid said Ghana is still in a period of economic stabilisation, but with encouraging signs.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe haven\u2019t exited the stability phase yet, but central bank reserves are strong, which is a good sign.\u201d<\/p>\n<\/blockquote>\n<p>One of the notable achievements so far, he noted, is the establishment of a functional Gold Board \u2014 fulfilling a major campaign promise.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe Gold Board now has a fully constituted board and a legislative mandate. In the past, gold programmes were inconsistent. Now, we have structure, sustainability, and legal backing, which boosts both local and international investor confidence.\u201d<\/p>\n<\/blockquote>\n<p>He shared that international investors, including officials from the International Finance Corporation (IFC), are increasingly optimistic about Ghana\u2019s prospects.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI recently spoke with an IFC official at the Bank of Ghana. We agreed investor confidence has returned. What we now need to build is strong domestic confidence.\u201d<\/p>\n<\/blockquote>\n<p><iframe width=\"800\" height=\"500\" src=\"https:\/\/www.youtube.com\/embed\/6ztDYzYA_Qc?si=KeHKh2sOb1KatzYB\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>He concluded by underscoring the crucial role the supplementary budget will play in strengthening Ghana\u2019s economic recovery and boosting local investor trust.<\/p>\n<\/div>\n        <div class=\"booster-block booster-reactions-block\">\n            <div class=\"twp-reactions-icons\">\n                \n                <div class=\"twp-reacts-wrap\">\n                    <a react-data=\"be-react-1\" post-id=\"80078\" class=\"be-face-icons un-reacted\" href=\"javascript:void(0)\">\n                        <img decoding=\"async\" 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  <\/div>\n\n    ","protected":false},"excerpt":{"rendered":"<div><img loading=\"lazy\" width=\"150\" height=\"150\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2025\/07\/image-1713-150x150.png\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"Mid-year budget will rebuild domestic confidence- Prof Khalid\" decoding=\"async\" loading=\"lazy\" title=\"Mid-year budget will rebuild domestic confidence- Prof Khalid\">Professor Sharif Mahmud Khalid, Economic Advisor at the Office of the Vice President, says he is confident that the upcoming Mid-Year Budget Review will serve as a catalyst to restore domestic confidence and revitalise Ghana\u2019s economy. Speaking on JoyNews\u2019 Super Morning Show on Monday, Prof. Khalid underscored the importance of the supplementary budget in rebuilding [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-80078","post","type-post","status-publish","format-standard","hentry","category-blog"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/80078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=80078"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/80078\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=80078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=80078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=80078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}