The minority in parliament has asked Ghanaians to brace themselves for tough times as government’s budget and economic projections for 2018 portend bleak days ahead.
“Can you create jobs under severe austerity under fiscal consolidation? The budget deficit in IMF’s article four is projected to be 3.8%, so ladies and gentlemen, next year, let us be assured that there is going to be ‘ahutsere’ – severe austerity equivalent to 1983; you should expect that,” Ranking member on Parliament’s Finance Committee Cassiel Ato Forson said at a roundtable on Monday, 13 November in Accra.
The discussion covered key aspects of the economy ahead of the presentation of 2018 budget by Finance Minister KEN Ofori-Atta on Wednesday, 15 November.
The minority further vowed to resist any attempts by the New Patriotic Party (NPP) government to overburden the ordinary Ghanaian tax payer.
Mr Forson indicated that even though citizens are expected to get a breather on taxes, plans are being hatched by the Akufo-Addo government to reinstate the taxes.
According to the minority, the 2018 budget cannot create jobs because of the following:
1. How can you create jobs when the commercial banks if do not have the needed liquidity to lend to the private sector
2. How can you create jobs under sever austerity
3. How can you create jobs when you have mandated the central bank to persuade tight monetary policy
4. How can you create jobs when real sector is projected to grow in 2018 almost at the same level in 2016.
Source: Maryan Abena Oteng/hbtvghana.com