The Minority in Parliament has accused the government of borrowing GH¢7 billion from the Treasury bills market to pay contractors outside of its budgetary allocations.
The Caucus told journalists on Wednesday that the government’s decision to extend its expenditure beyond the budget for political purposes is exacerbating the depreciation of the Cedi against the dollar.
The Minority Leader, Dr. Cassiel Ato Forson who addressed the press conference said: “They are on an expenditure spree, spending money as if there is no tomorrow. In the last few days, we are aware that they have paid approximately GH¢7 billion to contractors, off-budget contractors, off-budget expenditures, GH¢7 billion.
“They borrowed from the T-Bill market, so they borrowed the money from ordinary Ghanaians then they paid this money to these contractors, and the contractors are also not certain so they have engaged in currency substitution.
“The contractors got Cedis and went and changed it into US dollars and kept the money because of a lack of confidence in the economy.”
By: Rainbowradioonline.com/Ghana
