Instead of government taking the bull by the horn to reduce the over bloated public sector, streamline operations to merge Ministries and reduce public expenditure, we instead see new unproductive Public Institutions being created. These include the Ministry of Oil & Energy, Embassies being created such as the new Embassy in the Vatican and a continuing migration of the over bloated Public Sector wage bill unto the Single-Spine Scheme with its high wage bill.
The debt level being taken by the government year on year seems to far outweigh our earnings from all sources. I think the government mistakenly thinks it has some oil reserves similar to Nigeria?s so, it can borrow its way out of debt. The oil we produce is nothing to write home about and would not make a dint in your public finances. Chad produces similar barrels of?oil output per day (between 80,000-100,000 bpd) and this is nothing to build a country on in the 21st Century. The country is making a big stick for its back in the near future.?
The statement and analogy by Mr Terkper, the Finance Minister?that Ghana is not broke does not make sense. If you continue to follow a trajectory of financial recklessness sooner than later you would be wallowing in bankruptcy and that it seems is the path that Ghana has now embarked.