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State institutions must cut expenditure to save economy - Kwaku Kwarteng

Fri, 26 Nov 2021 Source: peacefmonline.com

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Former Deputy Finance Minister and Member of Parliament for Obuasi West, Kwaku Kwarteng, has urged state institutions to cut spending on unnecessary expenditure to save the government purse.

He says the strength of the economy depends heavily on government's expenditure especially the state institutions who normally over spend their budget.

Speaking on Okay FM's 'Ade Akye Abia' programme, he explained that there are a lot of unnecessary spending going on in government institutions which need to be reduced.

"As a country, we need to implement pragmatic measures and ensure that the public purse is saved from excessive borrowing and maintain a stable economy.

“The proposition that government should cut expenditure is what you clearly see in this budget. The total expenditure programme has been underspent under this budget. These are some of the observations we should begin to make that goods and services are lower than programmed," he said.

"I see clearly in this budget an attempt by the government to signal to investors into this economy that going forward we will protect the fiscal. I think there should be an indication to everybody including our colleagues in the Minority to engage with that question . . . we are seeing expenditure rationalization in the budget,” he stressed.

Source: peacefmonline.com
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