Documents available to the New Statesman indicate that for the months of October and November, alone, President John Dramani Mahama has approved and overseen the reckless dissipation of state funds to the tune of GH?500 million (?5 trillion.)
This rate of reckless expenditure in November and December alone has resulted in economic analysts predicting that Ghana?s fiscal deficit will rise from its current level of 7.3% of GDP to 10% by the end of this year, the largest deficit over 20 years.
The New Statesman can exclusively reveal that a total of ?5 trillion has been spent by President Mahama on projects such as renovating his office, ?oil and lubricants? for National Security, ?30 billion on ?special operations? and also GH?3,111,844.66 billion on ?allowances for staff of the electoral commission.?
On the 1st of October 2012, the National Security Council Secretariat received a whopping GH?4,452,450 on ?goods and services.? Intriguingly, the request was made on the 1st of October 2012 and the amount was released on the same day from Account ?2210106.? Ten days later, on the 11th October 2012, an extra GH?2,226,225 was allocated to the National Security Council for ?oil and lubricants.?
Similarly on the 12th of October 2012, GH?100,000 was disbursed from Ghana?s coffers for ?payment of special operations.? Fast forward to 21st November 2012 another GH?3,000,000, was disbursed from account ?2111001? for ?special operations budget.?
The reluctance by President Mahama to vacate the office he occupied as vice President can be attributed payment of GH?1.5 million on the 29th October 2012 from account ?2210106? for the payment of ?goods and services? aimed at the rehabilitation of the Vice President?s office.
The payment for GH?194,965.04 on the 5th of November 2012, for ?payment for medical treatment abroad? for Hon. Gershon Gbediame, Member of Parliament for Nkwanta South was borne by government.
Also on the 7th of November 2012 GH?126,003.39 was made for ?the payment for official travel to staff from the office of the President.?
The $3 billion Chinese loan, which is yet to arrive in Ghana, has already started attracting bank charges. A total amount of GH?62,205 was paid from account number ?2211101.? Furthermore, some GH?120,000 was spent by Mr Seth Terkper and other staff from the Ministry of Finance on travels to China to secure the loan.

Whilst basic schools across the country have still not received capitation grant for well over a year, and senior high schools yet to receive their subsidies, President John Mahama authorised the payment of GH?58 million to RLG communications ?for payment of arrears to NYEP beneficiaries?. This payment was made barely 2 weeks ago, on the 21st November 2012 from account number ?2111001.?
Also, a whopping GH?10 million was made from account ?3112207? for the purchase of laptops and computers for MEST to meet the Mathematics and Technology Scholarship Scheme.?
The inflated cost of constructing 6 classroom blocks also continued under President Mahama. President Mahama authorised the payment of GH?354,546.64 for ?financial support for the construction of 6-unit classroom block at Bankoman Senior High School at Banko in the Ashanti Region.?

Source: The New Statesman

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