afrol News, 18 March - The Ghanaian parliament has approved the rescue financial policy of government for the year ending 31 December, 2009 after almost two weeks of tough debates in the assembly.

The funding which will supplement the current budget, according to the members of parliament, is intended to bring smiles on the faces of the ordinary citizens, after the previous administration New Patriotic Party (NPP) failed to achieve the numerous targets it set for 2008.

The Finance Minister Dr Kwabena Duffuor, said the country has to adopt new strategies to properly manage resources for development, saying emphasis would be placed on efficiency to ensure that the right things were done to bring the country’s economy back on track.

He said he would appear before Members of the House at the appropriate time to address the various issues they raised concerning the budget, saying there was urgency to disburse the resources to the people.

He said poor resources' management have been a major setback to many African countries, including Ghana, saying the government would focus on efficiency in managing the economy to achieve best results for the country.

The Member of Parliament for Old Tafo, Dr Anthony Akoto Osei, said between 1996-2000 per capita income at that time kept dwindling thereby bringing hardship conditions on the people.

"As I look through the budget statement and the performance of the NDC government over a period, the growth of per capita income has consistently from 1996-2000 gone backwards," he noted, saying since 2001, the NPP has consistently increased the growth of per capita income which is a clear indication of putting more money into the pockets of the people.

Ghana which early this year elected to power the new president, has accused the previous administration of mismanagement of funds and possible embezzlement by government officials, which has widened the country’s budget deficit.

By staff writer

© afrol News

Related pages and feature

Current afrol News Top Stories