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President John Dramani Mahama has urged for fiscal discipline to safeguard the public funds and spare Ghanaians from experiencing more economic difficulties.
He argues that this can only be realized by making sure that governments avoid irresponsible borrowing and overspending, as this could damage the economy.
While speaking at the National Economic Dialogue on Monday, March 3rd, President Mahama expressed his concerns about inheriting a fragile economy from the previous administration under President Nana Akufo-Addo, which had difficulty providing basic essentials.
In his speech, the President promised to rejuvenate the economy by emphasizing long-term stability instead of immediate fixes motivated by personal political agendas.
“The mistakes of the past must not define our future, and I vow to do everything in my power to steer this nation towards a brighter and more prosperous path. My fellow citizens, I know that the road to economic recovery will be challenging, but we must not relent in our quest to rebuild the Ghana we all want.
He stressed that his main focus is to achieve macroeconomic stability by maintaining fiscal discipline throughout all sectors during his tenure:
President Mahama emphasized the importance of minimizing single-source government contracts to the lowest possible level.
We must review our laws to eliminate excessive waste in the procurement of government supplies and projects. Single-source procurement must be the rare exception rather than the norm. We must also subject government projects above a certain threshold to value-for-money audits.”
NKONKONSA.com
