Ofori Atta: We Are On Course With Expenditure Rationalisation

The Minister for Finance, Ken Ofori Atta has said the Akufo-Addo-led government is on the right path when it comes to expenditure rationalisation following the institution of expenditure cuts.

In March this year, the government announced a list of measures to alleviate hardship and ease economic pressure including the imposition of a moratorium on the purchases of vehicles, a 30% cut in discretionary spending, salary and fuel coupon cuts, etc.

“We’ve since the first quarter of 2022, cut discretionary expenditures in our budget by 30%. In addition, we announced a number of expenditure measures to keep public spending in line with our tightening economic conditions including restraints on purchase of vehicles and moratorium on non-statutory travel as part of measures to shore up our reserves, improve exchange rate stability, address some of the funding needs”, the Minister said during a press conference.

Six months down the line, Ofori Atta says the measure is taking a positive toll on the economy.

“Currently expenditure has largely been contained into the operationalisation of expenditure cuts announced since March. We are on course with expenditure rationalisation efforts”.

He added that the government will continue to ensure strict adherence to these measures across all MDAs while ensuring efficient delivery of public services.

Source: opemsuo.com/Hajara Fuseini