A financial expert, Dr. Emmanuel Opoku has disclosed that the increasing rate of abandoned and unfinished projects across the country is a serious threat to the country’s economic growth.
Dr. Emmanuel Opoku in an interview noted that abandoned and uncompleted projects affect the economic conditions of the country because cost estimates for projects are mainly based on the current outlook and current figures therefore when the projects are not able to be completed within the stipulated time, the project cost increases in the subsequent years hence making the country waste multiple sums of money on a project that could have been completed on time to save the country from incurring extra cost which negatively impacts our economic system.
Dr. Opoku stressed that one of the critical characteristics of public finance is to set priorities under physical policy analysis adding that we don’t set our priorities right as a nation because the political parties are always centered on their manifestos rather than focusing on the country’s development.
He added that, leaders and other stakeholders need to consider the enactment of a national development plan that will compel political parties to do what the country seeks to do and not what benefits their respective political parties.
Additionally, Dr. Opoku mentioned that positive economic growth will be difficult to achieve because the line of campaigns and other activities in the country is more political than social and economic thinking.
He further bemoaned how political parties always focus on the next election rather than the next generation hence affecting the political, economic and social growth of the country.