Vice President Dr. Mahamudu Bawumia has announced a plan to allocate 3% of Ghana’s Gross Domestic Product (GDP) to road construction if elected president.
Speaking at the 50th Anniversary of the Ghana Highways Authority, he pointed out that the government’s current budget isn’t enough to cover all road development needs.
Dr. Bawumia has highlighted the importance of involving private companies in solving the country’s road infrastructure challenges. He explained that relying solely on the national budget is insufficient to cover the full cost of road projects due to limited resources. According to Dr. Bawumia, even if all available funds were directed towards road construction, a significant shortfall would still remain.
He further explained that this investment will significantly impact the road sector. This initiative aims to address challenges in the road sector and boost infrastructure development across the country.
As a presidential candidate, Dr. Bawumia committed to reducing government spending by 3% of GDP to encourage private sector investment in infrastructure.
If elected, I will cut government spending by 3% to facilitate increased private sector involvement in road construction and improvement
By reducing government spending by 3% of GDP, which amounts to about thirty billion Ghana cedis, we can direct more funds to the private sector
Private sector involvement will bridge the financing gap and bring new funding sources and expertise to our road projects
He believes that this approach will not only ease the government’s financial burden but also enhance flexibility and efficiency in road development.
