Switzerland promoting sustainable growth in Ghana
BERN, Switzerland, June 28, 2012/African Press Organization (APO)/ — On 27.06.2012, the Federal Council decided to grant Ghana CHF 30 million in general budget support for the years 2012-2014 to help the West African country to implement its growth strategy and fight poverty. Moreover, it will help to strengthen the resilience of the economy in times of crisis.
Ghana has a remarkable political and economic track record. The country has established itself as a pole of political stability in a subregion marred by conflict. Ghana’s market-based, private sector-oriented economic policy has laid the foundations for strong economic growth and been successful in reducing poverty.
In spite of past successes, there is still a great deal to be done. Ensuring sustainable growth capable of creating jobs and reducing inequality against the current backdrop of global economic uncertainty is a major challenge. By injecting performance-related funding into public finances and providing a focussed political dialogue, the budget support contributes to closing gaps in development and consolidating past successes. This is achieved in particular through measures that help to strengthen competitiveness and improve provision of public services. Switzerland’s budget support is provided in cooperation with nine other donors.
Ghana is a priority country of the State Secretariat for Economic Affairs’ (SECO) economic development cooperation programme. The budget support is part of the package of measures designed to implement the credit line for financing economic and trade policy measures.
SOURCE
Switzerland – Ministry of Foreign Affairs
