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The Chief Executive of Microfinance and Small Loans Centre (MASLOC), Stephen Amoah, has assured Ghanaians that the impact of the 2018 budget would soon be felt in the pocket.  

He told this paper in an interview after the budget was read in Parliament a fortnight ago that considering the way H.E. Nana Addo Dankwa Akufo-Addo has handled the economy, where within a record time, most social policies have been implemented; the economic fortunes of the country would change from next year.

According to the MASLOC Boss, the Ghanaian economy is the defensive type where most of the firms or enterprises have a systematic risk index less than 1.

“This means that when the economy performs upwards, they are hardly affected readily. Most of them are operating SMEs or individual businesses that fall within this category in Ghana. It will therefore take a long time for them to feel the impact, unlike the developed countries  in which most of the companies and businesses fall within  the aggressive sector, whose systematic risk index is 1 and have very strong positive correlation with the economic growth or otherwise. People readily feel it in such countries,” he said.

 The Investment Consultant however stated that “What helps in our situation, as a country, is the social intervention policies, tax reduction policies, and subsidies that have are going on under the government of H.E. Nana Addo Dankwa Akufo-Addo. It is a record that within one year as a leader, most of these social policies have been implemented even though he came to meet a huge debt over of 12.2bn and huge deficit”, he said.

Sticker, as the MASLOC boss is fondly referred to stated that the recently read 2018 budget by the Minister of Finance Ken Ofori Atta, indicated that the vision as outlined in the President’s coordinated programme was to create “an optimistic self-confident and prosperous nation, through the creative exploitation of our human and natural resources, and operating in a democratic, open and fair society, in which mutual trust and economic opportunities exist for all”.

Mr. Amoah said the vision, according to the budget, will be achieved through five pillars, namely: restoring the economy; transforming agriculture and industry; revamping economic and social infrastructure; strengthening social protection and inclusion; and reforming public service delivery institutions.

He maintained that government had shown and will continue to show strong commitment towards restoring and sustaining fiscal credibility and macroeconomic stability, adding that attempts to restore and sustain the faith of Ghanaians and external partners were still being worked on.

The MASLOC Chief Executive mentioned that government has since it came into power demonstrated a lot of faith to Ghanaians in delivering most of what it promised Ghanaians.

He however said “government promised to implement a free senior high school policy, restore nursing training allowances, and to end ‘dumsor' and we have delivered all these and many others”.

He urged Ghanaians to exercise patients and employ tolerance with the Akufo-Addo government and be hopeful that it will deliver all that it has promised Ghanaians.