Minority Leader, Dr Cassiel Ato Forson, has alleged that the Akufo-Addo-led government printed about GHC 54 billion to fund its activities between the period 2022 and the first quarter of 2023
He said this is one of the factors that have largely contributed to the economic crisis currently being experienced.
“Ghana is witnessing hyper inflation largely because Mr President your government allowed the Bank of Ghana to print GHC50 billion for the year 2022 and another GHC 4 billion in the year 2023 first quarter.
“Mr President let it be noted that this expenditure financed public expenditure on your over bloated government expenditure,” he stated.
Speaking on the floor of Parliament after President Akufo-Addo delivered the 2023 State of the Nation’s, the Minority Leader dismissed the government’s claim that the current economic crisis is not its doing.
During his address, President Akufo-Addo had alluded that COVID-19 and the Russian-Ukraine war were the leading factors hampering economic development in the country.
Baffled by this claim, Cassiel Ato Forson , accused the government of plunging the country into an economic crisis.
“Our position is that Inflation is currently rising, monetary policy rate is at 280%. Ghana cedis has depreciated by 20% in January alone, Mr President unemployment is exceedingly high and as we speak, lending rate is at 40%.
“Our economy is in falters largely because it is self- Inflicted and your and government have failed to act and this is the true State of our nation,” he added.
Source: The Independent Ghana