The Minority in Parliament has launched a scathing criticism against the government, vehemently arguing that the current economic difficulties cannot be solely attributed to the COVID-19 pandemic, as fiscal mismanagement was already a pressing issue before the pandemic.
Isaac Adongo, the Ranking Member on the Finance Committee, did not mince words in his response to the 2024 Mid-Year Budget Review. He accused the government of using COVID-19 as a convenient scapegoat for its economic failings.
“Even before COVID-19, the government had already plunged this country into a serious fiscal crisis,” Adongo stated. “We missed key targets for our net international reserves in March and June, and we’re now looking at September 2024.”
Adongo highlighted that concerns about fiscal mismanagement were evident even before the pandemic, pointing to a statement from the Bank of Ghana indicating struggles with fiscal issues shortly after exiting a program in May 2019.
Adongo was clear in his rejection of the government’s narrative. He stated, ‘It is not accurate to attribute our current economic problems solely to COVID-19.‘
In contrast, Deputy Finance Minister Abena Osei Asare defended the government’s record, emphasizing fiscal discipline despite the election year. She reported a 2.9% savings in the first half of 2024, noting that the government had spent GHC1.1 billion of the GHC1.48 billion budgeted for the period.
“We are committed to staying within our budget limits,” Osei Asare said, underlining the government’s dedication to its proposed expenditures. “We have made savings and are confident in our financial management.”
