Mahama must cut down on expenditure to save economy - Dr Assibey-Yeaboah

Dr. Mark Assibey-Yeboah, an economist and Member of Parliament for New Juaben South constituency in the Eastern Region, wants President John Dramani Mahama to cut down on government spending and reduce the size of his government.

Dr. Asibey-Yeaboah also called for allocations to the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA) and programmes under it in order to put the economy on track.

The MP told Adom News that the government machinery over-spent its budgetary allocation by Gh¢ 600 million while the Ministry of Youth and Sports also over-spent its allocation by Gh¢ 300 million, a practice he described as “completely unacceptable.”

He urged government to avoid paying huge sums to party foot soldiers in the form of “kickbacks” considering that the economic deficit currently stands at 12.5%.

He explained that Ghana's government is no longer credit worthy according to Fitch ratings and predicted that most contractors are likely not to be paid for work done this year.

Dr. Asibey-Yeboah has therefore advised government to adopt austerity measures in order to save the economy from running into bigger problems in the coming days.

Story by Ghana/Adomonline.com/Listowell Kwadwo Fordjour