The Ranking Member of Parliament’s Committee on Economy and Development, Kojo Oppong Nkrumah, has committed to ensuring fiscal prudence and preventing budget overruns in the government’s financial management.
Speaking on Joy News’ Business Live, Mr. Oppong Nkrumah emphasized that his Committee, in partnership with the Budget Committee, would work to ensure that public funds are spent responsibly, promoting transparency and accountability.
“The job of the Budget Committee, which we’ll be assisting from the economy side, is to ensure that all of these regulations are adhered to in order to prevent overruns. There is quite an elaborate provision in the Public Financial Management Act (PFMA), and while we haven’t been perfect in enforcing it, we now have multiple committees keeping an eye on enforcement,” he stated.
Highlighting the importance of fiscal responsibility, he added, “On the Economy committee side, we will soon start our public hearings, inviting ministers to present the Annual Performance Report. We will scrutinize any overruns from previous years and closely monitor current spending.”
Through proactive oversight, Mr. Oppong Nkrumah’s Committee aims to help foster a stable and prosperous economic environment for Ghana.