Economist Dr. Samson Onomah has criticised the mid-year budget presentation by Finance Minister Dr. Cassiel Ato Forson, stating it was not entirely accurate and riddled with skewed political narratives.
According to Dr. Onomah, the presentation failed to offer a true reflection of the country’s economic realities and lacked tangible outcomes.
Speaking on Nyankonton Mu Nsem on Rainbow Radio, Dr. Onomah dismissed the minister’s emphasis on payments made for programs such as the Domestic Debt Exchange Programme, National Health Insurance, Nursing Training Allowance, and Capitation Grant.
He argued that these are obligatory payments, and presenting them as achievements is “needless political praise singing.”
“What we expected [the government] to do was to present tangible outcomes that are realistic in ensuring growth, increased national income, a stable economy, and the creation of jobs, but we did not hear any of these things,” Dr. Onomah stated.
He further contended that the mid-year budget revealed a lack of significant government achievements or tangible results. Dr. Onomah noted that while the presentation mentioned a stable economy, a stabilised cedi, and a reduction in the inflation rate from around 28 percent to 13.7 percent, it did not provide the true reasons behind these figures. He also questioned the practical impact of the reported inflation decrease, stating, “We cannot clearly see its reflection in our markets, therefore rendering it useless.”
Dr. Onomah expressed concern that the minister “refused to touch on the interest rate, which is around 29 percent,” finding it troubling to highlight a 13 percent inflation rate when interest rates remain high.
He also voiced reservations about the “artificial inflation rate” reported by the government statistician.
Dr. Samson Onomah further challenged assertions of reduced market prices, stating, “The traders have reduced their prices because the dollar is not stable and not in circulation. This is what we have. This is the reality.” He expressed deep concern about the accuracy of information presented by politicians, stating, “We have a problem in this country. The politicians are lying to us, and they keep lying to us.”
Dr. Onomah conveyed his frustration with the “insincerity of Ghanaian politicians,” asserting that they are “not truthful.” While he refrained from directly accusing the minister of “peddling falsehoods” or “presenting lies,” he maintained that the minister “ran away from the facts and the realities.” In his view, the minister “painted a picture of unrealistic issues.”
By: Rainbowradioonline.com/Ghana
