Politics

Bawumia sets target of reducing govt expenditure by GHC30bn in four years

Vice President and Flagbearer of the New Patriotic Party (NPP) Dr. Mahamudu Bawumia says he has set a target of reducing government expenditure by GHC30billion in four years to help boost the private sector.

Addressing the Clergy in the Savannah Region, the Vice President said he hopes to have the private sector equipped to take over some investments leading to expenditure cut of 3% GDP, thereby reducing government borrowing.

“I also believe that we need to reduce government expenditure. Government expenditure is high and it doesn’t have to be so. It is not everything that government should be trying to do. I want us to reduce government expenditure and rather allow the private sector to increase their expenditure. When government doesn’t spend as much, it doesn’t have to borrow as much and it doesn’t have to tax as much.

“So if you can reduce government expenditure, and my goal within the first four years is to bring down government expenditure by 3% of GDP that’s about GHC30bn. If you can bring down government expenditure that much  and then the private sector provides it, then all these problems of government not having enough money to pay for this and that may go away.”

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