By: Dr Kwame H. Afaglo
Being a Thursday morning 5th November 2020 and after the rains in Accra, heads are calm as we approaching the end of the week with workers hoping to cash out their salaries, hence taking time to go through this short write of 59 seconds reading could be done comfortably.
A week ago, the Finance Minister did seek permission from Ghana’s parliament to get an approval for twenty seven billion cedis (GHc27,000,000,000.00) to be taken from the Consolidated Fund for January-March 2021 expenditures for the following purposes:
⛔️ Salaries of public sector workers and ex-gratia of numerous elected political officers of GHc7 billion;
▪️Loan interest repayment of GHc3 billion;
▪️Repayment of loans on installment plan of GHc3 billion;
⛔️ borrow more as bonds of GHc5 billion;
▪️Purchases of goods and services to run the public sector, and few more.
As a starter, Ghana does not have enough in its Consolidated Funds else it would not go borrowing nicely and deceptively named *bonds*.
Then, a simplistic looking at expenditure that can be changed for the benefit of a highly geared country points to about GHc12 billion that can be relooked at by parliamentarians and have the majority side to ask the Finance Minister to go back and amend their expenditure.
The suggested expenditure meant for radical changes are,
⛔️ Salaries and ex-gratia of elected politicians.
Specifically, in the interest of slowing down the nation’s borrowing, the majority in parliament must halt the planned borrowing of GHc5 billion.
Then, the controversial but most needed cancellation of ex-gratia payment to the executives and parliamentarians. The law on ex-gratia to the executives and parliamentarians must be suspended forthrightly to save the tax payer, tax man’s performance and the country’s wallet (Consolidated Fund).
Further, salaries of all political appointees in public service must be reduced by 50% and that of public servants be docked by 25%, for the first three months.
This way everyone is sacrificing for the economy of Ghana in the short term for a long term benefit.
_Nyee gbe dze anyi_
©️2020 rafa raja