Finance Minister Dr Cassiel Ato Forson says the new Value for Money law will help reduce inflated government contract prices and improve accountability in public spending.
He said the law, recently signed by President John Dramani Mahama, will strengthen checks on public procurement and ensure the government gets good value for money.
According to Dr Forson, the law creates a new Value for Money Office that will review government projects and assess contracts before they are approved to ensure they are fairly priced.
“Beginning January 2027, this office will be fully implemented and Ghanaians will see the value of a Value for Money Office,” he said.
The Finance Minister added that the law is part of wider reforms to promote transparency, reduce wasteful spending, and improve the management of public funds.
He expressed confidence that the new office will help make government spending more efficient and responsible.