Gov’t To Cut Down On Spending For More Infrastructures –Veep

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By Maxwell Okamafo Addo

Vice-President, Kwesi Amissah-Arthur, has stated that Government was pursuing a number of reforms to cut down public spending in order for government to look at policies that focuses on the financing of infrastructural development to attract investment.

The Veep, made the statement, when the Steering Committee of the Ghana-US Partnership for Growth called on him yesterday at the Flagstaff House, to brief him on the outcome of the meeting on the Second Compact of the Millennium Challenge Account (MCA). The delegation was led by Pat Alsup, Deputy Chief of Mission of the United States Embassy in Accra.

According to the Vice-President, the Government is looking for efficiency in its spending, a stable and predictable wage bill and selecting and prioritizing projects to rope in the necessary investment, needed for the country.

He added that he was happy that the meeting has made substantial progress made in the readiness for the compact so that things move on smoothly

He explained that consideration for the vulnerable, under the current tax reforms, had not made the reforms radical enough to yield the desired results.

He further stated that the international economic system, has not worked in favour of the Ghanaian economy, especially for her commodity prices.

The meeting was to assess Ghana’s readiness for the second compact of the Millennium Challenge Compact, for which a board meeting is scheduled for the United States in May for possible disbursement of the funds in August.
T
he Ghana US-Partnership for Growth, forms part of US President Barack Obama’s Partnership Agreement for Growth to assist with financing of identifiable projects for poverty alleviation in Ghana, Tanzania and El Salvador.

It covers areas of energy and access to credit for small and medium enterprises that fall in line with Millennium Challenge Compact, operating under the Millennium Challenge Corporation,

On her part, Mrs Pat Alsup said, she was impressed with the progress made so far, but there are a few areas where the pace of work needed to be accelerated.

She concluded that the US will maintain a working partnership with Ghana, rather than what she called, giving-receiving relationship.

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