The Managing Director of the Agricultural Development Bank (ADB PLC), Edward Ato Sarpong has observed that Ghana’s renewed commitment to fiscal discipline is yielding tangible dividends, strengthening both the banking sector and the broader economy.
Commenting on the economy at the launch of the 2025 Non-Traditional Export (NTE) Statistics Report in Accra recently, Edward Ato Sarpong underscored the critical role of prudent fiscal management in restoring macroeconomic stability and rebuilding investor confidence.
“Ghana’s recent fiscal consolidation efforts, characterised by expenditure rationalisation, improved revenue mobilisation, and strengthened public financial management, have contributed significantly to stabilising the financial system,” the ADB MD stated.
“These measures have helped restore confidence in the banking sector, enhance liquidity conditions, and improve the resilience of financial institutions,” he added.
Edward Ato Sarpong further explained that fiscal discipline has had a significant impact on the economy. By reducing macroeconomic imbalances, government policy has created a more predictable business environment, enabling private sector growth and investment.
This, he said, is particularly evident in the performance of the non-traditional export sector, which continues to expand and diversify Ghana’s economic base.
The 2025 Non-Traditional Export (NTE) Statistics Report was launched by the Ghana Export Promotion Authority (GEPA). The event brought together key policymakers and industry stakeholders under the theme “Driving Economic Transformation Through Strategic Export Diversification”.
Insights from the report and accompanying solidarity messages reinforce this position. For instance, the Governor of the Bank of Ghana highlighted that the NTE sector has become a major contributor to export earnings and macroeconomic stability, supporting exchange rate stability and anchoring inflation expectations.
The ADB MD commended GEPA and its partners for leveraging this improved macroeconomic environment to promote export-led growth.
He noted that the expansion of non-traditional exports, spanning processed agricultural goods, manufactured products, and services, demonstrates Ghana’s progress in reducing dependence on traditional commodities such as cocoa and gold.
He also emphasized that sustained fiscal discipline will be critical in maintaining these gains. In particular, he urged continued efforts to strengthen financial sector oversight, enhance credit access for businesses, and support small and medium-sized enterprises (SMEs), which are central to export growth.
Edward Ato Sarpong reaffirmed the Bank’s commitment to supporting Ghana through targeted interventions. These include financing infrastructure, supporting industrialisation, and facilitating trade across regional and global markets. He stressed that Ghana’s experience serves as a model for how sound fiscal management can underpin economic recovery and long-term growth.
Source : myxyzonline
