Bawumia Promises to Cut Spending by GH¢30bn if Elected
Vce President Dr Mahamudu Bawumia has promised to cut the country’s spending by three percent if elected into office as the President in the 2024 Presidential Election.
He made this known on Thursday, May 16, 2024, during an engagement with clergymen in the Northern Region of the country.
A number of reviews he seeks to undertake in the current administration when he becomes President will enable him to cut the overall spending of the government by some GH¢30 billion including reducing the number of Ministers, he said.
“I have made it clear and even stated that I want to bring down government expenditure and the size of government by at least 3 percent of GDP, which is about GH¢30 billion over the next four years and I have also made it clear that I will have no more than 50 ministers, which is also to say I want to bring the size of government down,” CNR quotes him to have responded to a question as a solution on how he intended to reduce the country’s spending.
Ghana’s expenditure over the years has ballooned.
While delivering the budget statement in November 2023, former Finance Minister Ken Ofori Atta announced a 31% YOY nominal increase in the 2024 budget from GHS 183.8 billion in 2023 to GHS 226.6 billion in 2024.
