The Minority in Parliament has criticized the government for attributing the current economic challenges to the COVID-19 pandemic.
According to the Minority caucus, the economy was already mismanaged, leading to a fiscal crisis before the pandemic.
During the 2024 Mid-Year Budget Review presentation, Isaac Adongo, the Ranking Member on the Finance Committee of Parliament, highlighted the Minority’s concerns.
He argued that the pandemic should not be used as a scapegoat for economic mismanagement. Adongo pointed out that the government had already placed the country in a serious fiscal quagmire prior to COVID-19, missing targets in net international reserves as early as March and June 2024.
Adongo referenced a statement from the Bank of Ghana, indicating that by May 2019, five months after exiting the program, the government was struggling with major fiscal concerns. He asserted that it is not true that the problems are solely attributable to COVID-19.
In response, Deputy Finance Minister Abena Osei Asare assured that the government is committed to fiscal discipline, especially in this election year.
She highlighted a 2.9% savings achieved in the first half of 2024, stating that the government has spent within its limits and aims to maintain fiscal responsibility.
