Ahead of the 2025 budget presentation, Member of Parliament for Ofoase/Ayirebi, Kojo Oppong Nkrumah, has emphasized the urgent need for the government to reduce its spending to prevent further economic distress.
Speaking on ABC News GH, he stated, “One of the challenges we are having as an economy is that we are overspending. There are so many demands, but the revenue is limited, so the government has been borrowing to cover up.”
He further called on the administration to uphold its campaign promise of cutting expenditure by at least three percent of GDP.
Oppong Nkrumah highlighted inconsistencies in the government’s approach to expenditure reduction, questioning whether a supposed lean government was truly saving costs.
“If I have 120 or 90 ministers and it costs GHC100 million to run government machinery, and then I have 80 ministers but it now costs GHC120 million, you can’t make the argument that you have a smaller government,” he argued.
He urged the government to be transparent about its fiscal policies and ensure that real savings are made.
The former Minister for Works and Housing, Kojo Oppong Nkrumah further cautioned against reckless spending, saying, “Looking at the numbers, we have to reduce total expenditure. What we need to do is to cut down spending in a way that allows the economy to recover.”
He stressed that the government must make tough decisions to ensure financial stability, rather than relying on excessive borrowing to sustain operations.
