A Deputy Minister of Finance, Mona Quartey is assuring that government will not succumb to temptations to overspend in 2016.
The minister was reacting to concerns from some economists and international rating agency Fitch, that government may not be able to implement fully, an International Monetary Fund (IMF) program because of its track record of overly spending during election years.
Dr. Paa Kwesi Nduom, the 2012 Presidential candidate of the Progressive People`s Party (PPP) has also blamed the country’s current economic woes on overspending in the 2012 general elections.
[contextly_sidebar id=”XTl4kR2XvYYimxLpyjuQUqD79f8feVws”]According to him, such spending happens mostly during election seasons, but that of 2012 “…was worse.”
But Mona Quartey insisted in an interview with Citi News that such spending will not happen in 2016.
Government is expecting officials from the IMF in November to wrap up on negotiations for a bailout programme which is expected to bring Ghana’s economy back on track.
The Deputy Finance Minister is however optimistic that managers of the economy will have no difficulty adhering to the policies of the IMF that prescribes fiscal discipline.
She affirmed that this is “the second time we are going into elections under an IMF programme, and there would be no excessive overspending. There will be just the normal spending.”
“We have already always had social protection policies in place, all be it on a general bases, this time we will make sure it’s targeted. I think that when we do that we will also take out some of the rigidity in our budget where we are sending out protection to even people who don’t need it. But now we will target it and it will be fine,” she said.
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By: Godwin Allotey Akweiteh/citifmonline.com/Ghana