President John Mahama is advising Ghanaians to observe prudent money-spending principles as part of government's effort to keep the country afloat financially.
He said workers should cut down on excessive expenditure and save some money for future use.
His advice comes few days after the International Monetary Fund (IMF) released the first tranche financial assistance as part of the three-year bailout programme from the Bretton Woods institution.
President Mahama said, "the success of this extended credit facility will depend principally on ourselves, not on the IMF, World Bank or our development partners. It means that we must exercise fiscal discipline and we must live within our means".
On infrastructural development deficits, the President said government is investing a lot of resources to bridge the gap, adding "we must realise that government is like the family and as the head of your family, you cannot provide all that your family needs at once."
"We all have demands on government, but we have to be moderate in these demands in order not to disrupt the budget and government's expenditure", he added.
He advised that the citizenry be patient because the fact that the government has not yet provided a certain project that was requested for does not mean that it will not be provided.
The IMF board on Friday April 3, 2015 approved Ghana's request for a bailout programme to help stabilise the country's economy.
Ghana is expected to get $918 million spread over three years following the board's approval.
The first disbursement of about $100 million is expected to hit the Bank of Ghana's accounts in the coming weeks.
Finance Minister Seth Terpker said the money will be used to shore up Bank of Ghana's declining reserves.
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