Mid-year review bereft of ideas – Minority

The Minority caucus in Par­liament says the mid year fiscal policy review of the 2024 budget statement and eco­nomic policy of the government is “inspiring, bereft of new ideas, gives no hope and fails to offer a road map to address the numerous problems facing the people of Ghana”.

Dr Cassiel Ato Forson, the Mi­nority Leader and MP for Ajuma­ko/Enyan/Esiam told journalists in Parliament yesterday that the opposition National Democratic Congress (NDC) appreciates the challenges confronting the people and would work to address them if given the opportunity at the December 2024 polls.

“This mid-year review leaves many people disappointed and uninspired. It gives no hope to the ordinary Ghanaian that anything will be done to change the unbear­able hardships that confront the people of Ghana today,” he said.

Dr Forson was responding to the mid-year budget review presented by the Finance Minister, Dr Mohammed Amin Adam, to Parliament in Accra yesterday.

Dr Adam had lauded the gov­ernment for its interventions over the last two years to get the econ­omy back on the path of fiscal consolidation, economic stability and growth.

“I am happy to note that these policies we have implemented are yielding the expected results; growth continues to exceed our expectations, inflation is declining, exchange rate has largely stabilised, compared to December 2022, despite the recent pressures, gross international reserves reached 3.1 months of import cover as at end June 2024 against 2.5 months of imports cover in the same period last year.

“Mr Speaker, it is evident that we are on the right trajectory. The economy is rebounding stronger than anticipated. The choices we have made and the policies we are implementing are yielding results. We have reversed the negative trends, all the indicators are look­ing better. I want to assure you that we will stay on this path and continue to make the right choices. Our economic recovery is fast and strong,” Dr Adam stated.

But Dr Forson said since as­suming power in January 2017, the Nana Addo Dankwa Akufo-Addo government has rather burdened Ghanaian businesses and individu­als with high tax regime including E-Levy, COVID Levy, an effective VAT rate of 22 per cent, distorted VAT regime, a betting tax, a sanita­tion levy amongst others.

“At the very least, the NDC Minority Caucus expected nothing less than the removal or abolishing of the (above) taxes,” he stated.

 BY JULIUS YAO PETETSI