The former Minister for Trade and Industry, Dr. Ekwow Spio-Garbrah, has emphasized the need for governments to allocate public funds in a rational and sensible manner that benefits the entire population.
Speaking on the importance of fiscal responsibility, Dr. Spio-Garbrah noted that while it is common practice for governments worldwide in the United States, Europe, and Japan to balance spending with taxpayer interests, similar prudence should be a priority in Ghana.
Dr. Spio-Garbrah acknowledged that various government projects deserve commendation and public appreciation, particularly those that serve critical needs, such as the establishment of healthcare facilities.
However, he cautioned against wasteful expenditure, suggesting that governments could choose either to utilize funds in a way that the public can genuinely appreciate or to channel funds into projects with limited impact. He referenced instances where substantial sums of money have been invested into projects that lack clear benefits, using the example of a “$25 million hole” as a hypothetical project that does not fulfill public needs.