The Institute of Economic Affairs (IEA) has intimated that the measures outlined by Finance Minister Ken Ofori-Atta as expenditure reduction measures are insufficient.
According to the institute, the government’s expenditure is still bloated and has to be reduced despite the measures outlined by the government in the 2023 budget.
In a document titled: ‘Comments on 2023 Budget
Read full articleand Economic Policy’, the IEA said that the government must, among other things, reduce its ministries to 16.
It added that the 16 ministries must be manned by 16 ministers and 16 deputy ministers.
“We had noted, pre-budget, that Government expenditure was not only excessive but that it was also plagued by extreme rigidities and imbalances that needed to be corrected.
“We propose the following actions to trim down compensation generally: Reduce the size of government.
“Reduce the number of Ministries to 16 as follows: Finance — to be responsible for the budget; Economy — to be responsible for economic policy and planning; Foreign Affairs; Justice & Attorney General; Trade & Industry; Food & Agriculture; Defence; Interior (Includes National Security)
The other ministries the IEA indicated should include: “Education, Youth & Sports; Local Government & Rural Development; Lands & Natural Resources (Includes Water Resources); Energy & Petroleum; Tourism, Chieftaincy & Culture; Roads & Highways; Transport & Communications (Includes Railway Development); (and) Works, Housing & Employment”.
View the full document by the IEA below:
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