An Economist, Prof. Godfred Bokpin, has lamented the high cost of running the country. He noted that Ghana cannot afford to have such large numbers in its governance structure.

He noted that a large number of MPs and ministers takes a huge chunk of the government’s revenue leaving very little for development.

Prof. Bokpin also lamented the effect of leakages and corruption on the country’s resources.

According to him, Ghana loses GH¢3 billion to corruption annually.

Speaking at the Graphic Business/Stanbic Breakfast Meeting on November 9, 2022, he said: “ISODEC estimated that Ghana loses 2.2 billion to leakages annually. But I believe that democracy is not a one size fits all so it’s about time we look at why we are operationalizing our democracy, it’s too expensive. The country can’t afford that.”

“You have to convince me why Ghana should have 275 MPs. Certainly, I’m convinced that it could be far less than that. Since 1992 if you look at the cost of operating our democracy, it’s so huge and it leaves very little for growth-enhancing spending and for investment,” he said.

The Economist added: “If you were running Ghana as a business, I’m sure you would have sacked some of the ministers by now.”

He also intimated that Ghana needs some level of intentionality to be able to come out of its challenges else returning to the IMF will be inevitable.

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