2024 mid-year budget review lacks clear plan to address Ghana's challenges — Ato Forson

The Minority Leader in Parliament, Dr. Cassiel Ato Forson has said the 2024 Mid-Year Budget Review presented by Finance Minister Dr. Mohammed Adam failed to outline a clear roadmap for addressing Ghana's current economic difficulties.

In his critique of the budget on the floor of Parliament on Tuesday, July 23, Dr. Ato Forson said: "As we just listened to the mid-year budget review from the Minister responsible for finance, you agree with me that typical of this government, this address was uninspiring, fails to offer a roadmap for addressing the country’s challenges."

According to the lawmaker, "Ghanaians expected that the government would have removed a number of taxes because businesses are packing out of the country.”

The taxes, according to the former Deputy Finance Minister include covid levy, e-levy, ‘borla’ tax, tax on domestic electricity, and emission levy. "This is a missed opportunity. They are bereft of ideas, you are on your way to opposition."

In his mid-year review, the Finance Minister cited ongoing fiscal consolidation measures and highlighted improvements in key economic indicators such as GDP growth and inflation.

The Minister reported that GDP growth for the first quarter of 2024 exceeded projections at 4.7% and inflation declined to 22.8% in June.

However, the minority leader argues the review lacked concrete plans to address pressing issues facing Ghanaians such as high costs of living.

Dr. Ato Forson contends that government has run out of ideas to turn the economy around.

He claims Ghanaians wanted more decisive action to alleviate the current hardships.