In response to the mid-year budget review, the minority caucus in Parliament claimed that it would take Ghana five years to rebuild its economy.
Ken Ofori-Atta, the minister of finance, delivered the 2023 mid-year Fiscal Policy review to Parliament on Monday, July 31.
Ken Ofori-Atta noted the improvement in the economy since the country requested a bailout from the International Monetary Fund (IMF), among other things. He said that the country had “turned the corner” and vowed to stay on that course.
Ghana Needs 5 Years To Turn Economy Around – Minority
The minority, though, disagrees.
According to Minority Leader Dr. Cassiel Ato Baah Forson, the NPP government has seriously harmed the financial soundness of virtually all state-owned businesses.
The NPP administration has “also successfully murdered the financial health of almost all our state-owned enterprises. What a corner you have turned, Mr. Minister!!! How could you claim to have turned a corner when GDP growth has been revised from 2.8% to 1.5%? How could you claim to have turned a corner when Inflation is currently 42.5% and rising and projected to be 31.3% by the end of the year? When monetary policy is 30% and rising? How could you claim to have turned a corner when you have not stopped the reckless borrowing?”
