Government will spend within its revenue limits - Oppong Nkrumah

Minister of Information, Kojo Oppong Nkrumah, has said government will spend the country's resources judiciously in the coming year(s).

He stated categorically that government will spend within the revenue limits of the country.

Oppong-Nkrumah also indicated that government will not borrow for a project if it does not have the means.

Addressing journalists after a three-day cabinet retreat in Peduase Lodge, the Minister of Information said despite 2024 being an election year, government was poised to stabilize the wobbling economy, tame the high inflation, as well as, stabilize the depreciating currency.

“We are going to be tightly spending within the revenue limits of the country...If we do not have revenue for a project, we will not necessarily borrow to meet it," he said.

Kojo Oppong Nkrumah added that, “Cabinet is resolved that despite the fact that 2024 is an election year, focus should be on ensuring that we are able to consolidate the stability, bring inflation further down, and ensure that depreciation of the currency is held in abeyance.

"These are the focal points as against the traditional view that in an election year, the government has to spend more with the hope of winning elections,” he stated.

Kojo Oppong-Nkrumah further said apart from cutting down expenditure, government will enhance public financial management system to reduce wastage in government machinery.

President Nana Addo Dankwa Akufo-Addo and his Cabinet began a three-day retreat on October 20 to address the country’s economy, as well as the havoc created by the spillage of the Akosombo and Kpong dams.

SA/MA

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