They maintained that it's not due to the Ghanaian economy's over-dependence on imports, as suggested by President Nana Addo Dankwa Akufo-Addo.
ADVERTISEMENT
Depreciation of cedi due to bad management; not imports - NDC Minority
The National Democratic Congress (NDC) minority in Parliament has indicated that the recent depreciation of the cedi against the major currencies is due to bad management.
Cassiel Ato Forson
Recommended articles
Speaking at a roundtable discussion on the economy, minority Spokesperson on Finance Cassiel Ato Forson said the government is to blame for the struggling cedi.
“The depreciation of the cedi has put the economy in disarray and the projections surrounding it as contained in the 2019 budget. This has therefore undermined the confidence in the economy and sends a wrong signal to the investor community".
ADVERTISEMENT
He also called on the Finance Minster to present a new budget to Parliament due to the depreciation of the cedi.
According to the NDC MPs, the 2019 budget presented a couple of months ago has been rendered useless by the depreciation of the Cedi and other challenges in the economy.
Minority Spokesperson on Finance, Cassiel Ato Forson
ece-auto-gen
“This calls for urgent steps to be taken by the government to restore the economic health. The starting point is that we should be immediately presenting a new budget which considers all distortions and the serious problems occasioned by the fall of the value of the cedi", he said.
The NDC MP for Ejumako-Enyan-Esiam also added that: "At the minimum, we expect a statement to parliament assuring the nation and investor community of the steps taken by government to address the instability of the economy and that…the budget as presented by the Minister of Finance can no longer be relied upon as true blueprint upon which to manage the economy for the year.”
ADVERTISEMENT
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Train accident photo posted on my social media pages is a photoshop - Peter Amewu
Court jails truck driver 6 months for causing Ghana's brand-new train accident
609 Ghanaians died in first 3 months of 2024 through road crashes - NRSA reveals
Stay in your parents' house while you do your NSS - Sammy Gyamfi advises graduates
Joseph Addo files nomination to contest as NPP Parliamentary aspirant for La Dadekotopon
Dumsor: ECG board members reject PURC GH¢5.8m fine
Woman who claims to have been taken to another world by dwarfs shares experience
Organised Labour threatens to strike May 2 over Tier-2 pension arrears
