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Ghana's new government pledges fiscal discipline

Xinhua, February 3, 2017 Adjust font size:

The Economic Management Team of the new government in Ghana promised here on Thursday to put in place measures to ensure fiscal discipline and transparency in its management of state resources.

It said at all times the government will employ good economic governance, focusing on transparent and accountable use of public resources in accordance with the new Public Financial Management law.

These were contained in a statement issued by the Public Relations outfit of the Ministry of Finance after a four day meeting between the Minister for Finance, Kenneth Ofori-Atta and heads of Ministries, Departments and Agencies in Ghana's public sector in preparation for the 2017 annual budget and fiscal policy.

"Our focus is to audit the fiscal accounts and provide a credible basis for economic policy going forward. Our commitment is to restore fiscal policy credibility and transparency as well as policy clarity," the statement read.

With the audit, the team believed it will have a better sense of the numbers before the budget, and have a team assembled to complete a forensic audit to confirm the validity of expenses to ensure that value for money was obtained at all times.

"Going forward, we will rationalize public expenditures, strengthen contract management, and realign statutory funds to priority projects," the statement said. Endit