The minority in Parliament has predicted there will be severe austerity, similar to the historical 1983 famine, next year due to the NPP government's poor management of the country's resources.
The MP's have in their verdict criticized the NPP government's management of the economy claiming it has failed to fulfill major promises.
At the budget review forum held Monday, the minority spokesperson on finance, Cassiel Ato Forson mentioned the One district- one factory, one constituency- one million dollars and the Free SHS policy as some of the failed promises in the 2107 budget.
He also chastised government's claim to create jobs saying, “How can you create jobs under severe austerity under fiscal consolidation? The budget deficit in IMF article 4 is projected to be 3.8 so ladies and gentlemen next year, let us be assured that there will be severe austerity equivalent to 1983. How can you create jobs when you have mandated the central bank pursue tight monetary policy? How can you create jobs when the when the real sector, the non-oil GDP, is projected to grow in 2018 almost at the same level as 2016?â€.
“We believe that unfortunately, government economic policy for 2018 will bring about severe hardship and Ghanaians must be well informed,†he added.
The minority also predicted among others, that Ghana is likely to return to its HIPC status by 2019, considering the rising public debt stock.
They emphasized that Ghana will experience severe hardships likened to the 1983 famine, over the next two years due to the absence of jobs and an increase in the country's debts, although the figures will indicate some growth in the economy.
The Minister of Finance, Ken Ofori- Atta will present the 2018 budget to Parliament on Wednesday, 15th November 2017. The budget as hinted by the Minister will focus on the creation of more jobs and a reduction in electricity tariffs.
Read also: Reduction of Electricity tariff will be captured in 2018 budget – Nana Addo assures
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