General News of Monday, 5 January 2015
Renowned economist, Kwame Pianim has warned that the country risks serious economic crisis if government does not maintain strict fiscal discipline this year.
According to him, expenditure for “big projects” must be cut to reflect cost in order to improve the economic fortunes of Ghana.
The Mahama-led administration has been widely criticised for mismanaging the Ghanaian economy.
Critics have blamed the rising inflation and the ballooning budget deficit on poor economic decisions by the government.
Speaking to Citi FM, Pianim said, “If we don’t go for value for money spent, if we don’t cut expenditures for big projects to reflect cost, then we will be in trouble”.
He added: “What we need is the support of the IMF for us to do what we want to do; which is fiscal discipline. Without that, we can never grow the economy”.