{"id":68820,"date":"2024-03-16T06:57:21","date_gmt":"2024-03-16T06:57:21","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=68820"},"modified":"2024-03-16T06:40:25","modified_gmt":"2024-03-16T06:40:25","slug":"kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure","title":{"rendered":"Kwaku Kwarteng attributes current economic crisis to years of reckless expenditure"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Kwaku Kwarteng, Chairman of the Finance Committee of Parliament and MP for Obuasi West has attributed Ghana\u2019s current economic crisis to decades of reckless public expenditure and mismanagement by successive governments.<\/b><\/p>\n

In an interview with Accra-based, the Obuasi West legislator noted that COVID-19 and Russia\u2019s invasion of Ukraine are not solely responsible for the economic situation in the country.<\/p>\n

\u201cI am not with the school of thought that we were not going to experience a financial crisis but for these [Covid-19 and Russia-Ukraine War].<\/p>\n

\u201cThe country was always going to have some financial crisis. It might have been delayed a little bit if COVID-19 and the Russia-Ukraine war had not happened but the fact remains that with the path we were walking, we were definitely going to get here,\u201d he said.<\/p>\n

Mr. Kwarteng emphasised a persistent culture of overspending and a lack of fiscal discipline, stating that Ghana\u2019s current situation is the culmination of decades of terrible politics and economic mismanagement.<\/p>\n

\u201cOverruns and reckless expenditure have become a culture,\u201d he stated.<\/p>\n

He believes that unless there is a fundamental shift in attitude and a commitment to budgetary responsibility, Ghana will become a failed state.<\/p>\n

As a result, he urged for an open and honest examination of the bad cultural habits that have contributed to the current problem, as well as the development of long-term remedies for them.<\/p>\n

\u201cWe have the laws and we\u2019ve set up institutions that should help us deal with these, but no amount of legislation, no amount of institutional arrangements can stop a people determined to destroy themselves,\u201d the Obuasi West lawmaker stressed.<\/p>\n

Meanwhile, the government has over time blamed the onslaught of the COVID-19 pandemic and the Russia-Ukraine war for the economic challenges facing Ghana.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Kwaku Kwarteng, Chairman of the Finance Committee of Parliament and MP for Obuasi West has attributed Ghana\u2019s current economic crisis to decades of reckless public expenditure and mismanagement by successive governments. In an interview with Accra-based, the Obuasi West legislator noted that COVID-19 and Russia\u2019s invasion of Ukraine are not solely responsible […]<\/p>\n","protected":false},"author":84,"featured_media":68819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-68820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nKwaku Kwarteng attributes current economic crisis to years of reckless expenditure - Ghana<\/title>\n<meta name=\"description\" content=\"Kwaku Kwarteng, Chairman of the Finance Committee of Parliament and MP for Obuasi West has attributed Ghana\u2019s current ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kwaku Kwarteng attributes current economic crisis to years of reckless expenditure\" \/>\n<meta property=\"og:description\" content=\"Kwaku Kwarteng, Chairman of the Finance Committee of Parliament and MP for Obuasi West has attributed Ghana\u2019s current ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-16T06:57:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/03\/sm_1710558356.059605.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Kwaku Kwarteng attributes current economic crisis to years of reckless expenditure\",\"datePublished\":\"2024-03-16T06:57:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure\"},\"wordCount\":316,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/03\/sm_1710558356.059605.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/kwaku-kwarteng-attributes-current-economic-crisis-to-years-of-reckless-expenditure\",\"name\":\"Kwaku Kwarteng attributes current economic crisis to years of reckless expenditure - 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