Government To Continue Promoting Made In Ghana Products

Mr Seth Terkper, Minister of Finance, has announced that government will continue the campaign to promote made-in-Ghana goods, as one of several measures to promote economic growth in the medium-term. Mr Terkper who made the announcement in Parliament on Wednesday during the presentation of the 2015 budget statement, said government will support the local production of imported goods, especially those that can be manufactured locally. In addition, he said, government will add more value to exported products and raw materials. These measures are expected to boost the reduction of imports, which declined by 18 per cent in the past year, according to the Minister. He said the 18 per cent reduction in imports was attributable mainly to a reduction in crude oil imports. With these measures in place, there is a projected growth of 6.8 per cent in real Gross Domestic Product (GDP). However, the Minister also announced a projected decline in crude oil prices, which could have some adverse effects on the economy. The past year also saw a decline in gold and cocoa prices on the world market, he added.