Finance and tax analyst, Nelson Cudoe Kuagbedzi, has thrown his weight behind calls for the introduction of the Public Financial Management (Amendment) Bill, 2026.
He describes the move as critical to addressing persistent inefficiencies within Ghana’s public financial system.
Speaking to Citi Business News, Nelson Kuagbedzi said the amendment is long overdue and could significantly strengthen Ghana’s fiscal framework if effectively implemented.
“This is actually long overdue. This is a step in the right direction, because in the past, what actually caused Ghana’s problem has to do with fiscal mismanagement. And so, once this amendment is done, coupled with the value for money bill that was recently passed, it is going to help tackle certain chronic inefficiencies within Ghana’s public financial system.”
Nelson Kuagbedzi further suggested that aligning budget disbursements to NDPC-approved development priorities could reduce politically motivated spending and ensure continuity in long-term national projects, regardless of changes in government.
“For instance, inflicted contract corruption and the rest. So, we believe that when this amendment is done, it is going to tackle these chronic inefficiencies in the system. It is also going to help strengthen accountability and fiscal discipline, and also help in a way to reduce wastage in the system and promote confidence and accountability within the public financial system of Ghana.”
The Minority in Parliament is preparing to introduce the Private Member’s Bill to amend the existing Public Financial Management Act.
The proposed amendment seeks to tighten fiscal discipline and enhance accountability in public expenditure, particularly by ensuring that annual budgetary allocations are strictly aligned with national development priorities approved by the National Development Planning Commission (NDPC).
According to the Minority, the amendment is designed to curb fiscal slippages and improve expenditure controls at a time when Ghana continues to implement economic reforms aimed at restoring macroeconomic stability.
The proposed amendment also comes on the back of growing public scrutiny over budget overruns, procurement irregularities and concerns about value for money in state-funded projects.
Industry players believe stronger legal backing for expenditure controls could improve investor confidence and enhance transparency in Ghana’s fiscal governance.
If passed, the amendment is expected to complement existing reforms and reinforce institutional checks within the country’s public financial architecture.
