Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has revealed that the previous government, led by Akufo Addo, spent a staggering $400 million on just 22 hospitals under the agenda 111 projects. This expenditure occurred over a two-year period, as Dr. Forson explained during his presentation at the National Economic Dialogue in Accra.
Dr. Forson emphasized the need for a concerted approach to revitalize Ghana’s economy, which has faced significant shocks since the 2020 COVID-19 pandemic. He noted that the country’s fiscal policy regime has been ineffective over the last eight years, with revenues being used for non-budgeted expenditures.
The finance minister identified several key areas that require attention, including:
Infrastructure: Only 41% of primary roads are in good condition. Cocoa Production: The industry is facing significant challenges, affecting farmers.
Health Insurance: Claim payments have decreased Education: Public spending is ineffective, prioritizing staff over infrastructure.
Dr. Forson criticized the previous government for creating wasteful expenses and called for a review of allocations to state-owned institutions, such as ECG. He proposed an audit regime for tariffs, which often burden consumers and taxpayers. The government plans to harness resources to reset growth indices and support indigenous businesses.
Story by Nana Dogbe
