Ghana’s Growth and Poverty Reduction Strategy (GPRS II; November, 2005) which
spans the period 2006 – 2009 intends to shift the strategic focus of the country’s development
agenda from the direct anti-poverty objectives of the GPRS I to a more growth-oriented
strategy. The development agenda of the country, as set out in GPRS II is now geared towards
achieving middle income status by 2015. In other words, accelerating economic growth is to
be given priority. This growth acceleration is to be complemented by policies aimed at
empowering the vulnerable and excluded, so that the poor can share in the benefits of growth.
The growth agenda that is set by the GPRS II is to be led by the private sector with
agriculture as the launch pad. The other priorities of the GPRS seek to complement the goal
of increasing private sector competitiveness with the ultimate goal of increasing wealth
creation. The total resources required to finance the GPRS II is estimated to be about $8.06
billion. The budgeted expenditure over the period is estimated to be about $6.26 billion. This
leaves a financing gap of about $1.79 billion. It is therefore argued that resources constitute a
major constraint to the implementation of the GPRS II (GPRS II: Costing Framework, p-14;
November, 2005).