Audio Attachment: Listen to Kojo Oppong Nkrumah on Peace FM's 'kokrokoo' programme. |
A Deputy Minister of Information, Kojo Oppong Nkrumah has responded to the reaction by the Minority in Parliament over the mid-year fiscal budget review presented by Finance Minister Ken Ofori Atta on Monday.
Former Finance Deputy Minister and Member of Parliament for Ajumako Enyan Essiam, Cassiel Ato Forson has described the budget review as "asem bone", to wit bad news budget.
Hon. Ken Ofori Atta presented the budget review before the Legislative House.
Portion of his statement indicated that the Akufo-Addo administration "inherited a weak economy characterised by high fiscal deficit, 9.3 per cent of GDP on a cash basis against the then-target of five per cent on cash basis. A primary deficit of 1.4 per cent of GDP against a target surplus of 1.2 per cent, a high debt-to-GDP ratio of 73 per cent of GDP, high inflation of 15.4 per cent, low credit to the private sector, high interest rate, 91 per cent treasury bill rate at 16.4 per cent, weak domestic revenue mobilisation, low external reserves of 2.8 months of import cover, policy reversals including some unconstrained expenditure, seven billion of our standing commitments and un-discharged obligations and weak economic growth of 3.5 per cent – the lowest in 15 years. But Mr Speaker, permit me to reassure this august house that the Akufo-Addo government is not daunted by this statistics that were passed on to us.”
But Mr. Ato Forson believed the budget review has exposed the government.
“From the information that we have heard today, from the document that we have just been given, I rise to say that unfortunately the budget is being revised from ‘Asempa’ budget to ‘Asembone’ budget. I say this because this is bad news for this country. You will notice that non-tax revenues as projected, the programme was that from Q1 to Q2 the outturn will be 2.7 billion, Mr Speaker the out turn is now 2.1 billion, this is a cut. Clearly what this means is that there is a shortfall of almost GHS600million," he said.
Speaking in an interview with host Kwami Sefa Kayi on Peace FM's 'Kokrokoo', Hon. Oppong Nkrumah noted that the figures presented in the budget review were not manufactured but attained from the Ghana Statistical Service and the Central Bank.
To him, if Hon. Ato Forson claims the budget is bad news then he means to discredit the Statistical Service and the Central Bank which have been working hard.
He stated that the NPP government "will not be in power forever” and so cautioned the former Finance Deputy Minister to watch what he says about the budget review because they may one day come back into power and would rely on the same Statistical Service and Central Bank in their budget review.
He warned Mr. Ato Forson and the Minority not to score political points with the budget presentation.
According to him, the economic indicators under the Akufo-Addo government indicate high growth rate in Gross Domestic Product (GDP) and a vast improvement in the credit to the private sector.
Though appreciating some challenges in the economy, Hon. Oppong Nkrumah was optimistic the government would salvage the economy and deliver on her promises to Ghanaians.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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This big-headed boy think ghanaians are kids? well some believe him anyway. Thats why i dont drink
@eddie hahahahahahahaha I like your comment. Npp and lies is it a curse or what? hahahahahahaha these people and their Borromia would never stop lies. Let them continue to lie to the populace by the 2020 every single Ghanaian might seen them and their Borromia from top to down.
Borrowmia said the money is here in Ghana and we do not have to borrow. He led a team to go and borrow. No where in the world can a country in 3 months achieve this, Mr. Minister don't dribble us in a logorligi way. All you are saying is not here nor there. Give us a break. SOON WE WILL SEE IF ITS TRUE ABOUT YOUR COOKED FIGURES. (Just in September)
talk is cheap. this people can talk and lie papa. what at all do they want. can someone tell these people to stop the lies and cheap talk and sit up. we know them. they can't do anything.npp and lies. is it a curse or what
Ato Forson and cohorts are not to be blame but the Akuffo Addo government's slow pace in prosecuting the corrupt NDC appointees. The shotfall of about 6 million Ghana Cedis could not have been the if the 521 million Ghana Cedis given to Woyome had been retrieved
I cannot tell of Ato Forson's standing in economics. However, as a former deputy minister of economic planning and a current legislator, at least he must be abreast with elementary maths and common sense. Performance of GHC2.1b out of projected GHC2.7 b is 78% success, which in all respects is at least a B++, 80 being A and 90 and above being A+. For a government in office for 7 months, and settling down for real business just three months ago after forming a full cabinet, this performance is excellent to say the least. Do you remember that when Atta Mills assumed power in 2009 he tripled the money allocation for the Castle, his office,(3 X Kuffour's allocation in 2008) in his first budget without knowing where the money was to come from? You people are too noisy for nothing!!
ALL THESE ***barred word*** ARE MINISTERS,HOW CAN GHANA GROW. JUST LOOK AT HIS MORON FACE.ALWAYS TALKING GRARMMER AND READING PAPERS WRITTEN FROM ECONOMICS BOOKS BUT NO ACTION AND WORK.
Ghanaians Voted for you (NPP) to fixed so call Bad Economy by NDC, stop talking and blame game and deliver on your campaign promises. foooooolss. only talking talking talking. I we going to GDP.
Bastardize figures!!!. let someone remind NPP of what Bawumia did in opposition. Bawumia kept bastardizing figures from both the Statistics Dept and bank of Ghana. Where were you?
All the huge borrowing by the Mahama NDC government indicated in the budget, where did all that money go and what have been the impact of the money on the Ghanaian economy? NPP is only 7 months in government and could not have solved these problems in such short time but they must have answers to these questions if we can be confident in the plans of the Nana Addo NPP government to solve these massive problems. This is what is important!!!