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General News of Thursday, 14 November 2019

Source: Starr FM

Free SHS, others consuming too much money – IEA economist

A senior economist and research fellow with the Institute of Economic Affairs (IEA) Dr John Kwakye has bemoaned the cost of government’s flagship programs on the economy.

According to him, programs such as the Free SHS, ‘One village, one dam’ among others have become major financial constraints on the state.

Reacting to the budget statement read by the Finance minister in Parliament Wednesday, Dr Kwakye said he wished government could find another means to accommodate the cost that comes with such programs.

“I believe infrastructure projects are priority for the country. We are seeing the double-track system run because of lack of infrastructure. Left to me alone, I think flagship projects consume too much of our resources. I wish they are implemented in a way that will limit expenditure. The Free SHS is one of such projects”.

About GHC5 billion has been earmarked by government for the various flagship programs in the 2020 budget.

He also raised concerns over the revenue collection challenges of the government.

“We have to be more ambitious because the government is not doing so well with revenue mobilization. As a developing country, we need to gain support from the booming sectors of the economy. The balance in our expenditure side is not really the best. We are spending too much on recurrent expenditure and not on capital expenditure. This is not good for the long term”.

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