I promise accountability with results, says new Finance PS Ramathan Ggoobi 

The newly appointed Permanent Secretary for the Ministry of Finance, Dr.Ramathan Ggoobi has said his tenure will be one of accountability with visible results.

Ggoobi was on Thursday appointed the new accounting officer for the finance ministry to replace Keith Muhakanizi who was sent to the Office of the Prime Minister.

Speaking about his appointment, Ggoobi who addressed himself as a “simple boy” from Butambala applauded President Museveni for the appointment but was quick to assure Ugandans of tangible results in his new position.

“To H.E the president,  thank you for the trust in appointing me to serve in this office. To the people of Uganda, thank you for the support and love . To the world, this simple boy from Butambala believes in economics that works and hates accountability without results,”Ggoobi said in response to his appointment.

Despite “working” for government as Operation Wealth Creation’s chief economist, Ggoobi has often criticised government over awful decisions on the economy.

“The Secretary to Uganda’s treasury is warning himself in newspapers. Who exactly formulates Uganda’s fiscal policy? Who advises on it? Who implements it? If the head of the central bank warned on the debt, may be , but secretary to the treasury,” Ggoobi said in one of the comments on social media about the economy as he took a swipe at the then Ministry of Finance Permanent Secretary.

Ggoobi has also always described himself as one who is in favour of economics that works.

“We have been growing the economy without creating jobs. We have been looking at sectors that would grow without looking at sectors that would create jobs. We need to help businesses to continue or recover by reducing compliance burdens especially for SMEs,” he said during a recent dialogue about the economy hit hard by the Covid pandemic and its effects like the lockdown.

On attaining the middle-income status, he said; “We must double the rate at which the economy is currently growing. The GDP must grow at a rate not less than 10% and we must find ways to reduce the fertility rate of Ugandans because population growth rate is a key determinant of economic prosperity. A society that produces more children than other products cannot achieve middle income in a single generation.”

He said that initially, population has to be directly controlled since per capita income growth initially depends on the population growth but noted this can change in the long run.

“In the long run, with an increase in incomes and living standards, death rate starts to fall and consequently birth rates also decline,” he emphasized.