Ghana needs 5 years to turn economy around – Minority reacts to mid-year budget review

The minority caucus in parliament has responded to the mid-year budget review, stating that it will take Ghana five years to improve the economy.

On Monday, July 31, 2023, the Minister of Finance, Ken Ofori-Atta, presented the 2023 mid-year fiscal policy review to parliament.

Among other things, Ken Ofori-Atta emphasized the progress made in the economy since seeking a bailout from the International Monetary Fund (IMF).

He said the nation has “turned the corner” and was committed to continuing on that path.

However, the minority thinks otherwise.

According to a statement from the Minority leader, Dr. Cassiel Forson, the NPP government has severely damaged the financial stability of nearly all state-owned enterprises.

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?"