Government must avoid using expensive debt to pay emoluments, debt servicing – GSE boss

Ghana must prioritize only necessary expenditures, especially in these hard economic times and also in the future.

According to the Managing Director of the Ghana Stock Exchange, Abena Amoah, the government must practice fiscal discipline to achieve economic growth.

She cited borrowing at expensive rates for consumption as one of the causes of the country’s problems.

Abena Amoah asked the government to invest in areas that would yield benefits and rekindle confidence in the economy.

“Fiscal discipline is necessary for sustainable economic growth. Government must prioritize economic and social investments and must avoid using expensive debt to pay emoluments and service more debt.

“The way we spend more than 40% of revenue paying emolument and the rest paying public debt. We need to spend where it matters most,” she was quoted by myjoyonline.com.

The GSE boss encouraged the investor market to diversify their investments and consider investing in capital markets.

She, therefore, encouraged public-private sector partnerships adding that “this helps leverage resources and expertise of both public and private sectors for the benefit of the economy.”

“We must conduct ourselves in a transparent and accountable manner, and build trust with other stakeholders”, she added.



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SSD/FNOQ