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The Minority Leader in Parliament, Cassiel Ato Forson, has called for a thorough examination of the 2024 budget to prevent the Ghanaian economy from collapsing.
He said Parliament and financial experts should ensure that the government does not spend beyond its means.
He was speaking at a workshop for MPs on the 2024 budget on Saturday, November 18, 2023.
He expressed worry about the state of the economy, blaming it on years of excessive government spending, aided by a compliant central bank.
He also mentioned an incident where a district chief executive assaulted a fuel station attendant for asking for payment.
He said the economy is in a critical condition and noted that Parliament has faced public and expert criticism for its role in this situation.
He, however, pointed out that the Minority Caucus had always warned about the unsustainable debt accumulated by the Akufo-Addo government.
He said the public still holds Parliament responsible, arguing that the government’s spending spree had the implicit endorsement of the House.
He advised against overspending in the 2024 election year, citing unplanned projects without funding sources and promises to workers without considering the wage bill.
He said the President would be tempted to fulfil some of his unrealistic promises, regardless of the consequences on the economy.
“This will be the last and final budget to be presented for and on behalf of President Nana Addo Dankwa Akufo-Addo. The temptation by the President to fulfil some of his unrealistic promises, irrespective of the consequences on the Ghanaian economy, is therefore high,” Ato Forson said.
He stated that the 2024 budget is the first one after Ghana joined the IMF program. He warned it could come with harsh conditions that would affect the living standards of Ghanaians and worsen the economic situation.
He urged the House and financial experts to monitor government spending closely to safeguard the fragile economy.
He also stressed the need for Parliament to exercise its oversight role over the Executive in 2024 to avoid any fiscal irresponsibility by the outgoing administration.
