2022 Mid-year Budget Review: Ken Ofori-Atta is digging his grave to jail – Adongo

Adongo alleges Ofori-Atta cooking up figures on Ghana’s economy

Adongo suggests Ofori-Atta is not an ethical person

Ofori-Atta presents 2022 Mid-Year Budget Review

The Member of Parliament (MP) for Bolgatanga Central, Isaac Adongo, has accused the Finance Minister, Ken Ofori-Atta, of conjuring figures on the economy.


Read full article/>
According to Adongo, Ofori-Atta cooking figures to make Ghana’s economy look better than it is, is totally unprofessional and no person with good moral judgement will engage in such an act.

Speaking to the media at Parliament, on Monday, July 25, 2022, the MP indicated that if his party, the National Democratic Congress (NDC), comes to power, they will ensure that the minister is punished for all the times he had lied to the people of Ghana.

“When you revise the GDP, it means that whatever figure that sits on the GDP, that figure becomes smaller so he is able to get a deficit of 6.6 percent by artificially cooking a GDP that doesn’t exist.

“When I tell you that man is a danger to us, you think that it is personal. No serious ethical person will do what he came to do. That you are cooking your numbers, you are adding to the expenditure, your revenues are not performing; your expenditures are going up because your interest payment is more.

"You are paying more COLA. As a matter of fact, your economy is not performing because your GDP is struggling but artificially you are able to get a high GDP to suppress the deficit.

“Ken Ofori-Atta is digging the grave to go to jail tomorrow because we will properly audit these numbers and it will show that what he came to do today was not what he originally put on the other paper which he asked for more money to spend,” he noted.

Ken Ofori-Atta disclosed that Ghana's GDP growth rate has been revised from 5.8 percent to 3.7 percent.

According to him, the revision in the country's GDP projection and other macroeconomic variables is necessitated by the current global economic hardships.

"In the light of significate changes in the global environment and our own unique challenges, we have revised our economic growth estimate for 2022 to 3.7 percent, down from 5.8 percent as stated in the 2022 budget," the minister said.

He added that aside from the overall GDP growth rate, almost all the order macroeconomic variables have been revised downward with "non-oil GDP growth of 4.3 percent down from 4.9 percent; end-period inflation of 28.5 percent, up from 8 percent.

"The overall deficit of 6.6 percent of GDP, down from 7.4 percent; primary surplus of 0.4 percent of GDP, up from a surplus of 0.1 percent and a Gross International Reserve of not less than 3-months import cover."







Meanwhile, GhanaWeb is accepting nominations for the prestigious GhanaWeb Excellence Awards – Youth Edition. Click here to nominate.

Watch the latest episode of The Untold below:



IB/SARA