Minority in Parliament led by Dr. Cassiel Ato Forson has rejected Finance Minister, Mr. ken Ofori-Atta’s claim that the Ghana’s economy is showing signs of recovery.
Previously, we reported that Ken Ofori-Atta claimed that Ghana has economic stability indicators such as lower inflation, more foreign exchange reserves, and less erratic exchange rates.
He stated that the nation is close to overcoming the obstacles that have plagued the economy.
“The economy is showing signs of recovery. The exchange rate has stabilised, inflation has softened, and interest rates have declined since December 2022,” he stressed.
However, Mr. Cassiel Ato Forson, the Minority leader of the NDC MPs in Parliament noted the Finance Minister should not say anywhere that he has turned things around.
According to Minority leader in Parliament, the Ken Ofori-Atta has rather depended the woes of Ghanaians.
The Minority leader also added that the Finance Minister said he is revising economic growth from 2.8% of GDP to 1.5% GDP. He added that he has doubt the economy will go above 1% GDP in 2023.
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Minority dismisses Finance Minister’s economic recovery claim#UTVNews pic.twitter.com/IiSUrgeoPd
— UTV Ghana (@utvghana) August 1, 2023
In a related news, according to Finance Minister Ken Ofori-Atta, 2022 was a challenging year for him and the administration of President Nana Addo Dankwa Akufo-Addo.
He claimed that the COVID-19 aftermath and the Russia-Ukraine war, which had an impact on the entire world, were to blame for the rising cost of goods and services.
Ken Ofori-Atta informed the legislature about the mid-year budget review and claimed that the pandemic and conflict forced the government to seek assistance from the International Monetary Fund (IMF).
Meanwhile, COPEC Fuel prices are expected to rise beginning on August 1. Petrol is expected to cost $13.27 per liter and diesel will cost $13.93.
Duncan Amoah, theChamber Of Petroleum Consumers’ (COPEC) Executive Secretary, claims that the “pump prices of Petrol and Diesel are likely to increase on average by about 9% over the current mean price of GHS11.90/L across the country whilst LPG prices increase by about 20%.”
