The President of IMANI Ghana, Franklin Cudjoe, has made a bold assertion about the current status of Ghana’s economy in this difficult COVID-19 era.
According to him, the government should cut “unnecessary” expenditure in the budget and find prudent ways to block tax leakages in areas like petroleum fraud and suspicious tax exemptions in order to finance the national budget frugally.
In addition, Franklin Cudjoe agrees with Minority Leader in Parliament, Haruna Iddrisu's assertion that government should desist from constructing new projects without a secured fund.
“I fully agree with Minority Leader, Haruna Iddrisu, that we must not embark on new projects unless we have secured funding. It is refreshing to hear Hon. Kyei Mensah- Bonsu say that government will ensure that 8700 projects at various stages of completition will be prioritised”, he said.
His assertion is based on a study IMANI has conducted and it stipulates that Ghana will be in a disastrous position if the government fails to raise GH26 billion from now to June.
This is because their projections show that government can generate GH72 billion from both new and old taxes to finance its GH113 billion expenditure in the 2021 budget.
“But Fellow Ghanaians, if your government doesn't secure at least 26bn cedis between now and June 2021, it will be disastrous”, he said.
He concluded in his Facebook post, dated on March 16, 2021 that the government should fix the broken economy than to tout itself for achieving insignificant things.
“The government must stop boasting of macro this, mega that, maximum there. It is broke and highly indebted.”, he said.