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General News of Tuesday, 29 April 1997

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Economist Calls For Discipline In Government Expenditure

Accra An economist today called for discipline in government expenditure as a way of eliminating the huge fiscal deficits that are responsible for the excessive borrowing from the banking system. He stressed that if this is not done, schemes put in place to assist small and medium scale enterprises are not likely to be productive. Dr Augustine Fritz Gockel, a lecturer of the Department of Economics at the University of Ghana, Legon, was leading a round-table discussion on his paper on "The implications of the 1997 government budget on medium and small-scale enterprises". About 40 small and medium scale entrepreneurs and consultants are taking part in the discussion which is organised by the National Board for Small Scale Industries (NBSSI). Dr Gockel said the operations of established schemes must be clearly defined as to avoid delays in implementation. "Indeed, the effectiveness of programmes designed to assist medium scale enterprises must have the concerted efforts/inputs from all key players, including the government, NBSSI, non-governmental organisations (NGOs) and the enterprises themselves".