Ofori-Atta’s Fiscal Measures Are Empty, Government Must Rather Place Moratorium On New Loans – Ato Forson

Member of Parliament for Ajumako-Enyan-Esiam, Cassiel Ato Forson has described the new measures announced by the Finance Minister Ken Ofori Atta as cosmetic, and empty.

He said the government just rather place a moratorium on new loan cut 2022 foreign financed projects by at least 50 per cent.

In a tweet reacting to the new measures announced by Mr Ofori-Atta on Thursday March 24, Mr Ato Forson who is a former Deputy Minister of Finance said “The fiscal measures announced today are just cosmetic and Empty. It will further erode confidence in the economy. Govt should: 1. place a moratorium on new loans 2. cut 2022 foreign financed projects by at least 50%! 3. And deliver on promise to review all flagship programs!”

The fiscal measures announced today are just cosmetic and Empty. It will further erode confidence in the economy. Govt should:
1. place a moratorium on new loans
2. cut 2022 foreign financed projects by at least 50%!
3. And deliver on promise to review all flagship programs! — Cassiel Ato Forson

Mr Ofori-Atta announced that with immediate effect, the Government has imposed a complete moratorium on the purchase of imported vehicles for the rest of the year.

He said this will affect all new orders, especially 4-wheel drives.

“With immediate effect, Government has imposed a complete moratorium on the purchase of imported vehicles for the rest of the year. This will affect all new orders, especially 4-wheel drives. We will ensure that the overall effect is to reduce total vehicle purchases by the public sector by at least 50 percent for the period,” he said.

“Again, with immediate effect Government has imposed a moratorium on all foreign travels, except pre-approved critical/statutory travels; Government will conclude on-going measures to eliminate “ghost” workers from the Government payroll by end December 2022;

“Discretionary spending is to be further cut by an additional 10%. The Ministry of Finance is currently meeting with MDAs to review their spending plans for the rest of the three (3) quarters to achieve the discretionary expenditure cuts; ii. these times call for very efficient use of energy resources.

“In line with this, there will be a 50% cut in fuel coupon allocations for all political appointees and Heads of government institutions, including SOEs, effective 1st April 2022,” he added.