The Vice President, Dr Mahamudu Bawumia has said that he will allocate 3 percent of the country’s Gross Domestic Product (GDP) to road construction when voted into power.
GDP is the most common measure for the size of an economy. It measures the value of total final output of goods and services produced by that economy in a certain period of time.
Speaking at a high-level meeting on roads in Accra, Dr Bawumia said, this will help address challenges in the road sector.
“As a candidate, when I do my next budget, I am reducing government expenditure by 3 percent of GDP in favor of the private sector.”
“This will help to realign expenditure from the public sector to the private sector, three percent of GDP is not small, you are talking about thirty billion Ghana cedis and most of that will be into infrastructure and roads,” he promised.
“So that you want the financing to be by the private sector and that therefore reduces the burden on government and creates fiscal space at the same time,” he explained.
“So, we will be looking at these approaches, public private partnership offers a viable solution to bridge the financing gap by fostering collaboration between the public sector and private investors. We can unlock new funding streams and leverage expertise in project implementation”.
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The post I will allocate 3% of GDP to road construction in Ghana – Bawumia first appeared on 3News.
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