Ato Forson expects more hardship in 2022 but gov't rejects baseless claims

Opposition MP and Ranking Member of the Finance Committee in Ghana’s parliament has said the country should expect more economic difficulties this year, 2022.

Dr. Cassiel Ato Forson in a Facebook post on Sunday said: ‘folks we need to brace up for more hardship this year’.

The Ajumako/Enyan/Esiam lawmaker who advanced his argument in the six-bullet point post predicted that there would be “at least 30% increase in general goods while the Ghanaian cedi will hit seven Cedis to a dollar by the end of the year, 2022″.

He based his claim on the fact that the cedi is currently trading at almost GH¢6.5 to $1.

According to the former Deputy Minister of Finance under the Mahama regime, fuel prices are “set to go up by 18 pesewas this week and more likely to go up again on account of a weak cedi”.

He noted that, there will be “multiplicity of taxes and levies to take effect by the end of January 2022”.

Dr. Forson further added that “interest rates are likely to go up again” while the government will be “borrowing heavily from the domestic market” since the Euro bond market is closed to Ghana for, at least, the first half of 2022.