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Government to focus on “fulfillment of existing commitment and the completion of current projects,” says caretaker Finance Minister

The Minister of Parliamentary Affairs and Caretaker Minister of Finance, Osei Kyei-Mensah-Bonsu has revealed that government is charting a new direction by focusing on “fulfillment of existing commitment and the completion of current projects”.

He said “a major concern of all Ghanaians across the political divide, is the usually wasteful spectra of uncompleted public projects scattered across the country” and this, he said must stop. Government’s goal, the minister explained is to bring to an end the culture of unfinished projects.

Delivering the 2021 Budget in Parliament on Friday, the Suame MP said the budget, themed; “Completion, Consolidation and Continuation” is underpinned by the fact that over the years every new budget invariably contains a host of new projects to be initiated at the expense of ongoing projects.

Not only does this puts pressure on our finances but has historically resulted in arrears, with many contractors not being paid on time for work done and thereby escalating the overall cost of these projects,” Kyie Mensah Bonsu stated.

“The Delivery Tracker, which the Government launched last year to track the progress of infrastructure projects, showed over 8,700 ongoing projects across all sectors at the end of 2020” he added.

The Caretaker Minister of Finance also said “the preoccupation of Government in 2021 and the medium-term, therefore, is to implement measures to mitigate the impact of the pandemic with a view to returning the economy to strong and sustainable growth while protecting lives and livelihoods”.

“Government will continue to; build strong macroeconomic fundamentals, sustain investments in productive infrastructure, develop a competitive world-class human capital base, promote an efficient well-capitalised financial sector, build a competitive business environment anchored on scientific and technological innovation; and pursue a robust social protection system that guarantees an acceptable standard of living for all, consistent with the Vision of the Ghana Beyond Aid and the President’s Coordinated Programme”.  

He added that the overall real GDP is projected to grow at 5.0 percent in 2021 while non-oil real GDP is projected to grow at 6.7 percent. In terms of sectoral growth, the Agriculture Sector is expected to grow at 4.0 percent, the Industry Sector at 4.8 percent, and the Services Sector at 5.6 percent.

Story by: Edward A. Ken-Zorre

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