Minority Says Gov’t Is Out Of Touch With Current Economic Realities

Harruna Iddrisu
Harruna Iddrisu

The Minority caucus in Parliament says the measures announced by Mr Ken Ofori-Atta, Finance Minister, to restore the vibrancy of the economy, implies that government is out of touch with the current economic realities.

Mr Haruna Iddrisu, the Minority leader, at a press conference in Parliament asserted that the measures were inadequate.

He said: “Arguably, after listening to the Finance Minister, his responses and proposals, while he was talking about expenditure cut, he also says they are going to see on growth areas and social spendings. That can only be a contradiction. Our immediate response to the Minister of Finance is to state categorically and unequivocally that he has lost touch with reality. He is not in tune with the state of the Ghanaian economy.”

Mr Ofori-Atta at a press briefing on Thursday revealed among other things a 15-pesewa reduction on a litre of petrol and fuel, and a moratorium on importation vehicles. He also announced a cut in fuel coupons for government appointees by 50 per cent.

However, in his address, Mr Iddrisu chastised the Government over its management of the economy.

The Minister of Finance again announced measures taken by the Government to revive the economy which was suffering several challenges including inflation, depreciation of the Cedi, difficulties in payment of debts, among others.

He highlighted twelve points for cutting down public expenditure, including a moratorium on imported vehicles and foreign travel by public officials.

He also indicated plans to generate more revenue including impressing parliament to pass the E-levy.

Mr Ofori-Atta also indicated plans to inject $2 billion into the economy in the next two to six weeks.

For the Minority leader, however, these plans are not in any way meant to be in the interest of the ordinary Ghanaian.

“Our economy today reflects nothing less than a cost-of-living crisis and a cost of doing business crisis both for individuals and businesses who are unable to cope with the measures so announced by the Minister for Finance. We do not find his proposals adequate. We need certainty and clarity,” he said.

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