[ 2017-01-20 ]

5% of GDP lost to leakages will be sealed- Finance Minister designate assures Pa
Finance Minister designate Ken Ofori Atta has
given his fullest assurance the Nana Akufo-Addo
government will raise the necessary revenue to
fulfill the campaign promises and to improve the
standard of living of Ghanaians.

According to him, leakages in Ghana's financial
sector alone amount to some 5% of the Gross
Domestic Product, (GDP).

He also quoted an Auditor General's report which
indicated that an amount of 6billion cedis is lost
through misappropriation of funds in the public
sector.

The minister designate said his ministry will make
strenuous efforts to seal leakages and raise the
necessary funds to fulfill the promises made
during the campaign.

The minister designate made the revelations,
Friday when he took his turn before members of the
Parliament's Appointment Committee.

President Akufo-Addo has a tall list of promises
to fulfill and expectations to meet having been
sworn-in as president.

From the one constituency, one million dollars;
one village, one dam; one district, one factory to
the reduction of "nuisance taxes" the president
has just a four year tenure to fulfill these
promises.

With the economy growing at just around 4% of GDP
concerns have been raised about how the
government will be able to grow the economy and
fulfill these promises.

When he appeared before the Parliament's
Appointment Committee, members did not fail to
play back the promises made by the NPP and how
they intend to raise money to fulfill them.

In a calm demeanor and selecting his words
carefully the minister said he will find the
resources to fulfill the promises made.

He said even from leakages alone, there is an
"incredible amount we can save" to fulfill the
promises.

On how to raise $275 million for the one million,
one constituency policy, the Minister designate
said 15% of the country's revenue is spent on
capital expenditure and that amount can be
reallocated to cater for  $275 million.

On the Zongo development project, Ken Ofori Atta
said an amount of $15 million will be put into a
development fund to begin the process of sharing
the country's resources equitably.

"All citizens deserve a minimum thresh hold of
development," he stated.

Source - Myjoyonline.com

... go Back