National Economic Growth: $10 Billion Investment in Infrastructure to Boost Key Sectors

The National Economic Dialogue has six breakout sessions focused on various sectors of the economy.

Here are the key takeaways from each session:

1. Creating the National Economic Council

• Focus on follow-up with the Dialogue to ensure implementation of recommendations
• Prioritize putting the country first in the quest for economic stability and growth.
• Emphasize creating a resilient, high-growth economy with reliable jobs for youth

1. Growth with Depth for Economic Transformation

• Adopt a framework for economic transformation with a focus on digitization
• Define clear policies with industrial players, local and foreign investors
• Create markets for local businesses and emphasize technology and R&D
• Assess financing options for women and explore cassava’s potential for the pharmaceutical industry

1. Private Sector-Led Growth

• Strong macroeconomic environment critical for success, with GDP target of 60%
• Policy consistency and coherence essential across governments
• Address huge debts of SOEs like Cocobod and ECG, and explore private sector participation
• Review GIPC Law, ensure tax efficiency, and prioritize food security Financing the Reset
• Create a fund ($10-15 billion) to empower specific sectors like garment and farming
• Address low productivity, work ethics, and performance management
• Reform Fair Wages and Salaries Commission to National Remuneration Commission

1. Restoring Macroeconomic Stability

• Address unsustainable fiscal policies, high inflation (23.2%), and depreciation
• Reform tax regime, VAT gap, and property tax administration
• Improve foreign exchange markets, review retention regime, and recapitalize Central Bank

1. Infrastructure Sector

• Invest $10 billion in infrastructure development, including agriculture, energy, and transportation
• Prioritize privatization of projects, PPP initiatives, and network connectivity in rural areas

1. Restoring Good Governance and Eliminating Corruption

• Implement constitutional reforms, retrieve looted resources, and retool government institutions to fight corruption