Elections and democracy are indeed expensive and this year’s crucial presidential elections is not an exception.
The High Street Journal is learning that this year’s Presidential and Parliamentary Elections are costing the taxpayer a whopping GHC 786.9 million which is equivalent to US$ 52 million. The amount was approved by parliament about a year ago on December 20, 2023.
This year’s amount compares to GHC760 million that was expended for the 2020 general elections representing just a marginal increase of 3.5%.
Among a number of activities this amount will fund as part of the elections include, recruiting and training of electoral officers, expansion of polling stations, procurement of BVR machines, upgrading data centers, and printing of ballot papers.
The Electoral Commission had initially budgeted GHC 932.03 million but the Ministry of Finance slashed the amount to GHC 786.9 million.
The Electoral Commission’s 2024 Programme-based budget estimate reveals that about GHC 220 million ($15 million) was allocated for the compilation of voter’s register, while GHC 323 million ($22 million) was earmarked for conducting the elections proper, among other expenses. However, given the recent development where errors were detected on several printed ballot papers, which led to another reprinting process, that budget could likely increase.
This over $50 million expenditure on elections comes at a time the country is undergoing an IMF programme which is anticipated to recover an economy that was distressed as a result of several factors. This unavoidable cost allocated for Ghana’s 2024 elections underscores the high financial cost of democracy, but it also raises pressing concerns over the country’s fragile economic state.
With Ghana currently undergoing an IMF programme aimed at stabilizing an economy strained by high debt levels, inflation, and slow growth, this substantial expenditure poses significant trade-offs. Resources that could have been directed toward critical sectors such as healthcare, education, and infrastructure are instead funneled into electoral processes.
Moreover, the possibility of cost overruns due to errors in printed ballot papers and other unforeseen expenses could further strain the national budget. Such election-related spending risks deepening fiscal deficits, complicating Ghana’s path to economic recovery.
While democratic elections are vital for governance and political stability, the economic burden they place on taxpayers rather calls for the need for cost-efficient electoral practices, particularly in periods of economic hardship.
