Ranking Member on Parliament’s Finance Committee, Cassiel Ato Forson, says the new fiscal measures announced by the government lack substance and will not yield any significant result in the economic recovery process.
He contends that the various interventions outlined to enhance the economy’s growth may end up exacerbating the current economic woes bedeviling the country.
In a reaction to the Finance Minister’s address on mitigating the harsh economic conditions in the country, Mr Ato Forson said “the fiscal measures announced today are just cosmetic and empty; they will further erode confidence in the economy.”
The fiscal measures announced today are just cosmetic and Empty. It will further erode confidence in the economy. Govt should:
— Cassiel Ato Forson(PhD) (@Cassielforson) March 24, 2022
1. place a moratorium on new loans
2. cut 2022 foreign financed projects by at least 50%!
3. And deliver on promise to review all flagship programs!
The former Deputy Finance Minister suggested that “government should place a moratorium on new loans, cut 2022 foreign financed projects by at least 50% and deliver on promise to review all flagship programmes.”
Meanwhile, the Finance Minister says the opposition National Democratic Congress (NDC) is not a reliable entity to fall on when discussing measures to be implemented to save the Ghanaian economy.
According to him, it is the responsibility of the Party to state their response on government initiatives.
Ken Ofori-Atta is of the view that Ghana would have been worse-off if interventions from the NDC were implemented by the incumbent government.
His comment was in reaction to concerns raised by Cassiel Ato Forson that the measures will not yield better results.
But the Finance Minister noted that if Dr Ato Forson was committed to addressing investor confidence, the Minority in Parliament would have passed government’s revenue measures.
“We have all been partners in seeing how the economy was run from 2017 to 2019 and very clear the impact of Covid-19 on this economy and yet still we are able to see some growth within that period.
The issue therefore of investor confidence, will he (Ato Forson) take responsibility, or the inability, maybe, for his party not to pass our revenue measures in the House.”
Latest Stories
-
We may all resort to vote buying if electorates prioritise such over development – Asiedu Nketiah
11 mins -
NDF engages mineral extraction communities in advocacy and litigation resolution
15 mins -
Adabraka in community A/R unites to combat electoral violence
22 mins -
Forestry Commission cracks down on endangered bush meat trade
23 mins -
Global GDP could plunge by 24% by 2,100 without urgent climate action
24 mins -
High Court dismisses lecturer’s bid to block Deputy IGP’s appointment
32 mins -
MTN records 35.5% growth in profit to GH¢3.76bn in quarter 3, 2024
55 mins -
Deloitte to hold training on navigating customs and excise duty Obligations
58 mins -
Akufo-Addo, Bawumia should have prioritised National Peace Campaign launch – Mahama
58 mins -
AGI works to clamp down on substandard foreign mattresses penetrating Ghanaian markets
60 mins -
Immigration Service intercepts 54 gallons of fuel
1 hour -
Ace Medical Insurance makes its mark at Ghana Club 100 Awards
1 hour -
Dafeamekpor takes Speaker to High Court to affirm vacant seats ruling
1 hour -
Government is not funding GMX music streaming platform – Director of Marketing
1 hour -
Energy sector not advancing enough – ACEP
1 hour