The Minority in Parliament has strongly criticized the government for attributing the current economic challenges to the Covid-19 pandemic, arguing that the government’s mismanagement of the economy predates the pandemic.
According to Isaac Adongo, the Ranking Member on the Finance Committee, the government had already plunged the country into a fiscal crisis before the pandemic struck.
Adongo pointed out that the country’s fiscal issues, such as missing targets for net international reserves, predated the pandemic.
He cited a statement from the Bank of Ghana, which highlighted concerns about the fiscal environment as early as May 2019, five months after the government exited a program.
In response, Deputy Finance Minister Abena Osei Asare assured that the government is committed to fiscal discipline, highlighting a 2.9% savings achieved in the first half of 2024.
She noted that the government has spent within its limits, making savings below what was budgeted for.
The exchange highlights a disagreement between the Minority and the government over the causes of the current economic challenges and the government’s management of the economy.
While the government attributes the challenges to the pandemic, the Minority argues that the government’s mismanagement predates the pandemic, and they are seeking accountability and a change in economic policy to address the issues.
