We will ensure fiscal prudence and prevention of budget overruns – Parliament Committee on Economy and Development

The Ranking Member of Parliament’s Committee on Economy and Development, Kojo Oppong Nkrumah, has announced his Committee’s commitment to ensuring fiscal prudence and avoidance of budget overruns.

This move is aimed at promoting transparency, accountability, and responsible spending of public funds.

According to him, his Committee will be partnering the Budget Committee to achieve the objective.

“The job of the Budget Committee which we’ll be assisting them [government] from the economy side is to ensure that all of these are adhered to prevent overruns. There is quite an elaborate provision in the PFMA [Public Financial Management Act]. We haven’t been too excellent in enforcing it but now we have multiple committees keeping an eye on the enforcement of the regulations”, he mentioned on the Business Live on Joy News.

Mr. Oppong Nkrumah stated that the Committee’s focus on preventing budget overruns is particularly significant, given the government’s efforts to reduce expenditure and achieve economic stability.

“On the Economy committee side, we will soon start our public hearings, inviting the ministers to come and present the Annual Performance Report to spot any overruns that occurred in the previous years and how you’re spending this year”.

By taking a proactive stance on fiscal responsibility, Mr. Oppong Nkrumah’s ommittee hopes to contribute to a more stable and prosperous economic environment for Ghana.

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