Economist and Political Risk Analyst, Dr Theo Acheampong, has stated that political parties campaigning ahead of the 2024 general elections should be forthcoming about how they plan to fund their numerous promises.
Speaking on JoyNews’ PM Express, he emphasised that whichever government is voted into power will face the challenge of limited fiscal space.
Dr Acheampong explained that the incoming government will not have the resources needed to finance the extensive promises being made, noting that this calls for a deeper examination of how these campaign promises will be executed.
“The issue of how they’re actually going to fund these campaigns becomes very, very, very important because the money is just not there, and so we’ve got to be creative as to how they’re actually going to deliver on these promises and ultimately how it translates into outcomes,” he stated.
The economist added “So if you have that limited fiscal space available, and, for example, we’re promising to pay sub-chiefs, and we say you want to rope them into the governance process, you pay them, and what would they do? How do they actually contribute to the improvement of governance across the board in the country?”
Dr Acheampong stated that political parties addressing the funding of promises is crucial to determining the feasibility of promises and ensuring they translate into tangible outcomes.
He noted that these promises when implemented should reduce poverty and inequality and improve the general well-being of Ghanaians “because, as we speak currently, things are not that great.”
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