The National Communications Director of the governing New Patriotic Party (NPP), Richard Ahiagbah has backed the Finance Minister’s proclamation that the country is on a path to recovery.
He says the government has indeed turned the corner and is on the right path to reviving the economy.
Speaking on Metro TV on Thursday, August 3, the former Executive Director of political think tank, Danquah Institute berated the opposition National Democratic Congress (NDC) and its MPs for deceiving Ghanaians that the country is still in economic crisis.
According to him, the NDC is deliberately failing to accept the reality, thereby, attempting to deceive Ghanaians.
“I want to say that indeed we have turned the corner and the reasons for which I say this is the history of this government since 2017 to date, our record has been very clear.”
“The economy that we inherited was in decline and was in free fall. But in the first year in office, we turned things around and started growing. We did so again in 2018, we did so again in 2019 and then something changed.
“What changed was the Covid-19 outbreak which was the departure the NDC does not want to accept and when they do, they say it did not happen to Ghana alone.
“And when we started to find our feet again, then the Russia Ukraine war began,” he said.
While addressing Parliament during the Mid-Year Budget Review on Monday, July 31, 2023, Mr Ofori-Atta highlighted significant progress made in Ghana’s economy since the decision to go to the International Monetary Fund (IMF) for a bailout.
He told the House that “we have turned the corner and, more importantly, we are determined to continue down that path.”
However, the Minority Leader, Cassiel Ato Forson and his colleagues have taken him on for his proclamation.
The legislator insists that the pronouncement is empty especially when the Minister continues to borrow despite warnings to refrain from it.
Speaking on the floor of Parliament after the Minister’s presentation, Dr Forson said the impression created by the Minister is false.
“He said that the performance so far shows that, we have turned the corner. Unfortunately, the evidence and the numbers before us, show us that he has rather deepened our woes,” Dr Ato Forson said.
“I say this because he has said to us today that he’s revising economic growth from 2.8% of GDP to 1.5% of GDP.
“Again, he said to us here and now that he has borrowed ¢5.5 billion from January to June, from the T-Bill market.
“Mr Speaker, not long ago, this same Minister had informed us that he will not borrow at all in the year 2023. And that going into the remaining parts of the year, he is going to borrow another ¢41 billion.”
“Aside from that, the Cedi depreciation we are seeing so far, it’s largely because we have defaulted in the payment of external interest and principal. That is why the cedi has depreciated.”
The Mid-Year Fiscal Policy was in accordance with Article 179 of the 1992 Constitution and the Public Financial Management Act, 2016 (Act 921).