Reckless spending threatening Ghana’s economy

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New Patriotic Party (NPP) National Communications Team member, Alfred Thompson, has argued that Ghana’s economy could be heading for “a storm” if the government continues to engage in what he described as “unchecked spending.”

According to him, the current NDC government is managing the country’s finances in “a worrying” manner, marked by “a gross lack of transparency.”

Speaking on Metro TV’s Good Morning Ghana on Tuesday, March 24, on President the government’s “BIG PUSH AGENDA,” Alfred Thompson claimed that in addition to the current government’s “irregular expenditure pattern,” it has also engaged in “excessive borrowing” since coming into office.

“Unchecked borrowing and non-transparent spending threaten the foundation of our economy,” he said, adding that although the government may have “gotten it right” with the BIG PUSH AGENDA, it must prioritize projects that deliver value for money rather those that serve a political agenda.

“Sustainable development depends on disciplined budgeting, transparent procurement, and prioritizing value-for-money projects over politically driven initiatives,” he explained.

Reacting to reports of sole-sourced road contracts by the Ministry of Roads and Highways, Alfred Thompson argued that the government is “going back on its words,” after promising to eliminate sole-sourcing in awarding state contracts.

“There is zero transparency there, because they have broken their own word,” he said, let me tell you, responsible financial stewardship is not optional, it’s essential if we are to build a resilient and prosperous economy, there must be some form of accountability.”

Comparing the current performance of the NDC to the NPP’s development vision, Alfred Thompson explained that every government must push development beyond just “high profile” infrastructure to initiatives that directly impact the lives of Ghanaians.

“We focus on investing in human capital, skills training, and enterprise development because we want to build a strong workforce, these are what will positively impact the daily lives of Ghanaians, not some big title projects that sometimes have no bearing on our live,” he added.