Mid-Year Budget Review Needs To Be Flushed Into The Bin – Minority

Former Deputy Finance Minister under the erstwhile John Dramani Mahama, Dr. Cassiel Ato-Forson, has called for the mid-year budget review presentation presented by Finance Minister Ken Ofori-Atta to be trashed in the dustbin.

Addressing journalists after the Minister had finished his presentation, he said the economy was in the worst state, but the government seemed unconcerned.

He averred that the Nana Addo-led administration has shown that they are not prepared to govern the country.

“I want to say that if they are not ready, they should hand over the government to some of us that are ready to deal with the situation.”

“We can assure you that if given the opportunity, we will confront the problem head-on and ensure that Ghana is back to prosperity. We have done it before, and we will do it again.

“What I have seen today is sad. I am saddened as a Ghanaian because it’s a big missed opportunity. Don’t be surprised that by the close of today, our bonds in the international market will start getting worse once again, because this piece of paper needs to be flushed into the dustbin immediately. We need to shred it into pieces because it is empty and useless,” he opined.

Finance Minister Ken Ofori-Atta delivering the mid-year budget review said the economy of Ghana was facing challenges.

He said the government concedes that times are hard and things are not what we desire.

“But we believe in the overcoming spirit of the Ghanaian people, a spirit that does not cower in the face of challenges. It is this spirit that inspires us as a Government to provide the leadership that is required.

He said, our decision to go to the IMF again, despite what we had determined earlier, is a short-term measure for balance of payment support. In the longer-term what we really need is a major structural shift in our economy.

“The structure of the economy is still largely primary despite the numerous attempts to structurally transform it through various industrialisation programmes.

“We are heavily reliant on primary commodities, extractive industry and are price takers on the market. Our capacity and productivity remains low both in the public and private sectors.

“There are huge inefficiencies as well as limited skills to foster our developments and improve the standards of living. In this regard, any adverse global development impacts us negatively no matter how efficient we manage the economy.”