Dr. Julius Kwaku Kattah, a fellow Chartered economist and General Manager of Sefcom environment has said that, the mid-year budget review which was presented on 31st July,2023 by the Finance Minister Ken Ofori Atta is empty.
Speaking on Ahotor92.3FM’s morning show ‘Ade Kye Mu Nsem with Kofi Citizen, he stated that, to be a good or the best economist, you will need to take a critical look into the microenvironment and not just the macro environment of the state. “The budget has nothing in it, it is just mere historic”. He said.
The so called “best managers of the economy “ have no idea of the
practicality of the state of Ghana’s economy at the micro level. The past records of the Finance Minister has over the years reflect that we can’t have any proper budget, thus, we cannot even classify this budget as a “unity budget “.
He further went on to state emphatically that, this government doesn’t listen to the great minds of the public. He made references to the e-levy, 2022 budget which was filled with “beautiful words and projections”, policies and interventions, Bank of Ghana’s financial statement records 60.81 billion Ghana cedes losses last year,2022. “Past misstatement is a strong indication of future misstatement”, he said.
There’s no understanding within the government itself for services to make this country the state of economic growth.
He added that, there’s no stabilization of the economy when it comes to employment, inflation exchange rate among others, the living standards of the people is high, things are not like how it use to . Ghanaians are suffering!
“I still cannot fathom how just one coconut which was sold for 1.50ps now sells at ghs5.00”
The fellow Chartered Economist emphasised that, he Finance Minister need to give Ghanaians measurable statements on our debts( practical destabilization) of the economy which is accumulating to six hundred billion Ghana cedis.
“IMF support for post COVID-19 program for economic growth in the table of content of the budget means nothing to me.” He said.
“Minister Ken Ofori Atta should give us the mechanisms to be used to appreciate cedis against the dollar, as well as 1.2billion deficit to service gross domestic product”
Also, growth agenda mentioned in the budget cannot be realistic if indicators of microeconomic environment have not been realized.
He reassure Ghanaians that, there’s hope for Ghana come 2024 as the NDC leads us for a more better and sustainable economic recovery and development.
Grace Oguaah
