The Dean of the University of Cape Coast Business School, Prof John Gatsi, has said that the government’s expenditure cuts for this year have not made any insufficient impact.
His comment is in reaction to former President John Mahama’s criticism of the government for failing to cut down expenditure, and Vice President Dr Mahamudu Bawumia’s insistence that the government has cut down expenditure and effectively managed the economy amidst external challenges.
Prof Gatsi acknowledged a slight reduction in expenditure in some areas in the recent past but said they were insufficient.
Speaking on JoyFM’s Midday News, he noted “For this particular one, it is not very clear the impact of that particular reduction in expenditure that the government is talking about.”
Professor Gatsi noted that the current reduction has not had an impact, particularly when compared to past instances where expenditures were reduced during difficult times by cutting the salaries of certain key ministers.
He emphasised the need for a broad reduction in expenditure to free up more physical space for the economy.
Professor Gatsi stressed the importance of increasing revenue without causing disruptions to the business environment as the required approach.
“But while we are doing this, we are disrupting the business environment, and that is putting more burden on people, so that is not the best way to approach it, so there should be a balance in all these measures that are taken.”
Source: myjoyonline.com
