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Cedi depreciation: Give us a new budget – NDC MPs to Akufo-Addo

Members of the Minority National Democratic Congress (NDC) Caucus in Parliament is demanding a new budget from the President Nana Addo Dankwa AkufoAddo administration.

According to the NDC MPs, the 2019 budget presented a couple of months ago has been rendered useless by some economic factors including the fall of the value of the Ghanaian Cedi against the major international trading currency.

Speaking at a roundtable discussion on the economy, the Minority Spokesperson on Finance, Cassiel Ato Forson, said all projections made by the government in the 2019 budget statement and economic policy have seriously been affected as a result of the fall of the value of the Ghanaian Cedi.

He blamed the performance of the Cedi on the international market on bad economic management.

This, he noted, has “undermined the confidence in the economy and sent wrong signals to the investor community”.

“This calls for urgent steps to be taken by the government”, Ato For son told a packed auditorium made of NDC party functionaries and some investors as well as media professionals.

He said it is only a new budget that addresses the distortions and serious problems occasioned by the fall of the value of the Ghanaian Cedi that will inject some vibrancy and win the confidence that has lost in the economy back.

The proposed new budget, Mr. Forson added, should assure the investor community on steps being taking by the government to address the instability in the economy.

That the new budget must also announce bold and permanent steps to address the fall of the value of the Ghanaian Cedi as well as some relief measures for the investor community.

The Ranking Member for Finance Committee also proposed the scrapping of the Special Import Levy, noting that, “importers and consumers are dying”.

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