A finance and economic expert and member of the NPP Communication team is demanding greater transparency in government spending of revenue generated.

Stephen Amoah observes that increases in existing taxes and the introduction of new ones by government, resulting in improved revenue have not reflected in funding of development projects in the country.

The Minister for Finance and Economic Planning last week went to parliament to seek approval for a supplementary budget of 1.5 billion Ghana cedis.

Dr. Kwabena Duffour told the House the 2011 budget was based on actual data for the first three quarters of the year with the fourth quarter based on estimates.

He underscored upward adjustment in revenue projections caused by the passage of the Petroleum Revenue Act, rise in crude oil prices on the world market and production volumes.

The Finance Minister further outlined projects and areas the money will be channeled into.

However, Stephen Amoah who is also a member of the NPP communication team believes government must be more open to Ghanaians on how such money is being spent.

“Road tolls have been increased over 1,000 percent. It’s been known that we have borrowed almost 5 billion additional money to the 8 billion that we owe. Looking at the quantum or the amount of money that we are generating, looking at the fact that they are saying that they are exceeding revenue target, we do not see tangible manifestation in terms of what is going on in the country,” he added.

Mr. Amoah also appealled to the government to be cautious in its borrowing to ensure the country does not slip back into HIPC.

Story by Elton John Brobbey/Luv FM/Kumasi/Ghana

Tags: