Economist and Professor of Finance at the University of Ghana, Godfred Bokpin, has called on President John Mahama to establish a special task force to assess government expenditure efficiency and identify potential savings.

According to Prof. Bokpin, Ghana needs to explore major expenditure cuts and improve efficiency in public spending to reduce waste and lessen the burden on taxpayers.

Speaking in an interview on Joy FM's Top Story on Tuesday, February 11, he said: "if you look at the US, they've set up a whole department for government efficiency.

"I think the president should set up a small task force tasked with looking at expenditure efficiency sources, where that can come from across central government, state owned enterprises. In that way and let's see how much savings we can make from that."

Prof. Bokpin's concerns about fiscal discipline come in the wake of a decision by the United States government to freeze $150 million in financial assistance to Ghana.

Prof. Bokpin cited wasteful government expenditures, including the high cost of cabinet retreats, as areas where urgent reforms are needed.

"Our current president, during the campaign, told us that cabinet retreats were costing taxpayers GH₵5 million. That is more than the aid the US is withholding from Ghana's health sector and other areas," he said.

He further highlighted that the budgetary allocation to the Office of the President in 2024 was almost equivalent to the projected revenue from the E-Levy, raising concerns about efficiency and accountability in government spending.

According to him, Ghana's real challenge is the misuse of public funds.

"Our problem is the abuse from the expenditure side, which benefits politicians and political financiers. Every day, we tend to burden taxpayers, but these taxes must go," he emphasised.