The Member of Parliament for Yapei Kusawgu, John Jinapor, has slammed the government after its mid-year budget review, which he described has dishonest and “exceedingly disturbing.”
In his assessment, he said the Finance Minister is crashing us into a ditch.
Speaking in an interview Daily News Ghana monitored, Jinapor said “This Minster is crashing us into a ditch. We are going to have a major challenge and from next year, all of us are going to bear the brunt of these populist and unwise decisions we are witnessing today.”
The Finance Minister revealed that the pandemic had left the country with a revenue shortfall of GHS13.6 billion and unplanned expenditures of GHS11.7 billion.
This is set to result in a projected fiscal deficit of 11.4 percent of GDP crossing the 5 percent limit of the Fiscal Responsibility Act.
Ghana’s debt stock has also risen to GHS255.7 billion, as of June 2020.
Despite these figures being outlined, in a Citi News interview, Mr. Jinapor said there was an absence of transparency.
“The Minister ought to give us a true reflection of the state of the economy. If you were running low deficit figures, you wouldn’t have such a huge debt overhang,” he said.
Mr. Jinapor also said the government’s commitment to certain projects was because of the upcoming election.
“If today your revenues drop, what you do is that you prioritize. The Minister is asking for another GHS11 billion. You have a shortfall of GHS13 billion and he is asking for another GHS11 billion. Clearly the Minister’s mind and the whole budget is geared towards elections,” Jinapor argued.