Accra: Mr Thomas Nyarko Ampem, the Deputy Finance Minister-designate, has emphasized the need for Ghana to become self-reliant in the face of diminishing external aid from key donors. He highlighted the recent withdrawal of $156 million in funding from the United States through USAID as a significant challenge that necessitates a shift towards independence.

According to Ghana News Agency, during his vetting before the Appointments Committee of Parliament on Monday, Mr Ampem expressed his intention to work closely with the substantive finance minister to harness digital technology systems for increasing state revenue. He is committed to utilizing the Ghana Integrated Financial Management Information System (GIFMIS) to prevent procurement violations and support various Ministries, Departments, and Agencies in controlling expenditure while enhancing transparency and accountability.

The GIFMIS platform is a crucial tool for managing public finances in Ghana, and Mr Ampem aims to boost the tax revenue-to-GDP ratio from 13.8% to 18%. Additionally, he plans to reduce inflation from 23% to a target range of 8% plus or minus two. His agenda also includes supporting the implementation of key indicators outlined in the International Monetary Fund (IMF) programme.

Furthermore, Mr Ampem intends to leverage electronic digital technology to facilitate efficient market toll collection by various Assemblies. Regarding the 24-hour economy policy, he proposed that private companies participating in the policy could benefit from reduced electricity tariffs for nighttime operations.