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Business News of Wednesday, 11 February 2004

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Budgets Are Too Loaded With Dev't Projects

Analysts at a forum to discuss the 2004 budget statement of the government have sharply criticised government for over-loading the budget with many projects.

According to them, instead of setting up targets in budget statements, for easy evaluation, successive governments since independence have resorted to finding other means of appraising themselves at the end of the year.

A lecturer and an economic consultant, Prof. Cletus Dordunoo noted that, governments can reap success from what is within their targets, which could guide them to achieve higher successes.

Prof. Dordunoo emphasized the need for an extra discipline on public accounts especially in this election year, so that the government could retain confidence in its development partners. The lecturer who was among the speakers at the forum, noted that, internal and external development partners could be annoyed with government, if set targets are not reached by the end of the year.

He cautioned labour force against pressurizing government for higher wages this year, adding that, this could increase expenditure beyond the set target, since the ruling NPP government may be tempted to respond positively in order to retain power.