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General News of Tuesday, 29 October 2019

Source: Class FM

Ofori-Atta making payments outside GIFMIS to 'hide 7.3% deficit' – Mahama


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Ghana’s Finance Minister, Mr Ken Ofori-Atta, according to former President John Mahama, has been making payments outside the Ghana Integrated Financial Management Information System (GIFMIS) so he can hide, what he (Mr Mahama) claims to be the true state of the economy.

The computerised GIFMIS facilitates budget preparation and execution; accounting and financial reporting; cash management, assets management, as well as human resource and payroll management.

Speaking to party leaders and supporters of the main opposition National Democratic Congress (NDC) in the UK on Sunday, 27 October 2019, Mr Mahama said the Finance Minister and the Akufo-Addo government are hiding several things so they can paint a fine picture of the economy.

“There are many things that are going on; the economy is painted as being very rosy, various figures are being thrown about just to show that the economy is doing better but there are a lot of things the government is hiding from you.

“They are showing you a better balance sheet because they are misclassifying a lot of things and hiding things from the budget; they are making payments outside the GIFMIS”, he alleged.

The GIFMIS, he explained, “Was introduced, in our time, in order that we shall show transparency in the state of the economy and the implementation of the budget. So, every payment is supposed to go on the GISMIS platform”.

“You should ask the Finance Minister: why is he paying things outside the GIFMIS platform? It’s because he does not want to capture it on the platform because it will distort his deficit figure”, the 2020 flag bearer of the NDC asserted.

“So, he [Mr Ofori-Atta] says his deficit is 3.9 per cent but his deficit is above 7 per cent – 7.3 per cent – if you add all the things he is hiding outside the budget”, Mr Mahama told his audience, adding: “The cost of the financial clearance, GHS20 billion, it’s sitting and breathing; has he captured it in the budget? He hasn’t. We’re waiting for the budget on November 14 to see what he’ll include and what he will exclude and then we’ll see what the deficit is”.

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