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Wednesday 23 June 2021
HomeAfricaGhana rolls out 2nd Private Sector Development Strategy

Ghana rolls out 2nd Private Sector Development Strategy

The Ghanaian government is to roll out a second phase of the Private Sector Development Strategy, called the PSDS II, to develop a thriv i ng private sector that creates jobs and enhances livelihoods.

Unveiling the plan here Wednesday, Trade and Industry Minister, Ms Hanna Tetteh, said the Strategy had received cabinet approval.

Under the PSPS II, she said, Ghana’s Gross Domestic Product (GDP) would receive a minimum boost of 10% per annum on the average with expected per capita income o f a US$ 1,200 by 2015.

“This will give Ghana a firm stand as a middle-income country,” she said.

The current GDP and Per Capita Income stand at 5.9 per cent and about US$ 700 re spectively.

The country’s 2010 fiscal year projected a real GDP of 6.5 per cent, lower than 7.3 percent attained in 2008.

PSDS I, launched in 2004, focused on business enabling environment reforms formu lated on the premise of private sector-led growth where government was to ensure

that all institutional, bureaucratic and regulatory bottlenecks were removed to r educe the time and cost of doing business in Ghana.

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