The Member of Parliament for Bolgatanga, Isaac Adongo, has fired back at the Minister of Finance, Ken Ofori-Atta, for stating that the government has been able to turn the corner with regards to the economic challenges in the country.
The minister said this while delivering the 2023 Mid-Year Budget Review in parliament on Monday, July 31, 2023.
But the Bolga MP, Isaac Adongo outlined a number of reasons, contrary to the statement by the minister, that does not make his claims factual.
One of such, he said, is the fact that inflation is currently at 42%.
“The finance minister says he has turned the corner, you have turned the corner when inflation is 42%? Is that the corner? You have turned the corner when you are reporting that even by the end of the year, your reserves will only be 0.8 months, i.e. less than one month of reserves at the Bank of Ghana. And you said that is turning the corner?
“You have turned the corner when Governor and the MPC just recently increased monetary policy rates to 30%. You have turned the corner when the Bank of Ghana has reported that the cedi has depreciated by 30%. So, quite clearly, he is not even near the corner, let alone to turn it,” he stated.
Source: ghanaweb.com
