Ghana’s Minority Leader, Dr. Cassiel Ato Forson, harshly criticized the 2024 Mid-Year Budget Review presented by Finance Minister Dr. Mohammed Amin Adam. Forson also predicted that the ruling New Patriotic Party (NPP) would lose power in the next elections.
After the budget review presentation in Parliament, NPP members celebrated by singing “aba mu awie,” which means “the Lord has done it,” signaling their belief that they would retain power. Forson expressed shock at their jubilation, arguing that ordinary Ghanaians found little to celebrate.
Forson noted that Ghanaians were hoping for measures to alleviate their current hardships, including the cancellation of several taxes. “Ghanaians expected this mid-year review would have removed or abolished several taxes,” Forson said. He mentioned specific taxes like the COVID Levy, E-Levy, ‘bolla’ tax, tax on domestic electricity, and the Emission Levy as burdens that needed addressing.
“This is a missed opportunity,” Forson added. “Instead, the Minister did not announce one single new policy or introduce new ideas. Ghana is on autopilot.”
During the budget presentation, Finance Minister Adam highlighted the positive impact of policies implemented by President Nana Addo Dankwa Akufo-Addo’s administration over the past two years. He pointed to a 4.7% GDP growth rate in the first quarter of 2024, surpassing the 3.1% target, and a reduction in inflation to 22% as signs of economic recovery. The overall real GDP growth rate was revised upward from 2.8% to 3.1%.
Forson criticized the budget review for failing to address the economic struggles of ordinary Ghanaians. He emphasized that high tax rates drove businesses out of the country and prompted Ghanaians to leave. “Businesses are moving out of our country, and the ordinary Ghanaian is actually leaving the shores of this country,” he said.
The Minority Leader argued that the government’s failure to introduce tax relief measures showed a lack of concern for the people’s plight. He accused the Finance Minister of failing to implement policies that could provide much-needed relief to households and businesses.
Despite Forson’s criticisms, the Finance Minister presented data suggesting an improving economy. The revised GDP growth rates and lower inflation figures were evidence that the government’s economic policies were working. Minister Adam announced positive revisions to most of the country’s economic targets, suggesting a more optimistic economic outlook.
However, Forson remained unconvinced. He argued that the government’s policies were not benefiting the average Ghanaian and called for more substantial measures to support economic recovery. Forson’s statements highlight a deep divide between the ruling party and the opposition on how to best address Ghana’s economic challenges.
Forson’s prediction that the NPP is “on its way to opposition” underscores the political tension surrounding the budget review. The Minority Leader’s remarks reflect a growing dissatisfaction with the government’s handling of the economy. As the next elections approach, the debate over economic policies and their impact on ordinary Ghanaians is likely to intensify.
Forson’s call for tax relief and his criticism of the government’s economic policies may resonate with voters feeling the pinch of high taxes and economic hardship. The outcome of this political struggle will hinge on how effectively the ruling party can address these concerns and demonstrate tangible improvements in the economy.
The 2024 Mid-Year Budget Review has sparked significant controversy in Ghana’s Parliament. While the government presents an optimistic economic outlook, the opposition criticizes the lack of measures to alleviate the economic burden on ordinary Ghanaians. As political tensions rise, the focus will be on how both parties address these economic challenges in the lead-up to the next elections.
Source: Ghana Web
