Deputy Finance Minister-designate, Thomas Nyarko Ampem, has reiterated that the government will prioritise internal revenue generation over excessive borrowing.
Responding to questions during his parliamentary vetting about how the government plans to fund its expenditure without resorting to external loans, Mr Nyarko said, “We are going to aggressively pursue revenue generation and we will cut expenditure.”
“As for expenditure, we need to constrain it. Without that, we won’t be able to achieve our target. The president has already made a start by reducing the number of ministers by about 24, which signals that the government recognises the challenges we face. Everyone will be urged to follow suit,” he continued on Monday, February 24.
As part of efforts to reduce excessive expenditure and increase revenue mobilisation for national development, President John Mahama’s government has been prioritising measures to ensure fiscal sustainability.
Additionally, the President has cut the number of state ministers to 60, compared to over 100 under the previous government.
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