Group Chief Executive Officer at Databank Kojo Addae-Mensah has urged government to take steps to control or better yet reduce the country’s total expenditure going forward.
When the GH¢6.37 billion additional money the Finance Minister has requested from Parliament is approved, it will mean that government will now spend GH¢85.1 billion in the 2019 Fiscal year.
Commenting on the development in an interview with Citi Business News, Mr. Addae-Mensah said efforts to reduce the growing expenditure levels would go a long way to make Ghanaians more receptive to the request for an additional amounts in the 2019 fiscal year.
“I would have loved to have seen some attempts to reduce the expenditure level which is currently high. So if we try and do something about the expenditure it will improve things for the government.”
Mr. Addae-Mensah went on to express optimism about government’s decision to cancel all take or pay agreement to save gov’t some US$500m per annum.
“The fact that they are trying to do something about the take or pay agreements is very commendable. If it is executed well, it could be a game changer for us as a country.”