Ofori-Atta’s fiscal measures are empty; gov’t must rather place moratorium on new loans – Ato Forson

Member of Parliament for Ajumako-Enyan-Esiam, Cassiel Ato Forson has described the new measures announced by the Finance Minister Ken Ofori Atta as cosmetic and empty.

He said the government just rather place a moratorium on new loans, cut 2022 foreign financed projects by at least 50 per cent.

In a tweet reacting to the new measures announced by Mr Ofori-Atta on Thursday March 24, Mr Ato Forson who is a former Deputy Minister of Finance said “The fiscal measures announced today are just cosmetic and Empty. It will further erode confidence in the economy. Govt should: 1. place a moratorium on new loans 2. cut 2022 foreign financed projects by at least 50%! 3. And deliver on promise to review all flagship programs!”

Mr Ofori-Atta announced that with immediate effect, the Government has imposed a complete moratorium on the purchase of imported vehicles for the rest of the year.

He said this will affect all new orders, especially 4-wheel drives.

“With immediate effect, Government has imposed a complete moratorium on the purchase of imported vehicles for the rest of the year. This will affect all new orders, especially 4-wheel drives. We will ensure that the overall effect is to reduce total vehicle purchases by the public sector by at least 50 percent for the period,” he said.

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“Again, with immediate effect Government has imposed a moratorium on all foreign travels, except pre-approved critical/statutory travels; Government will conclude on-going measures to eliminate “ghost” workers from the Government payroll by end December 2022;

“Discretionary spending is to be further cut by an additional 10%. The Ministry of Finance is currently meeting with MDAs to review their spending plans for the rest of the three (3) quarters to achieve the discretionary expenditure cuts; ii. these times call for very efficient use of energy resources.

“In line with this, there will be a 50% cut in fuel coupon allocations for all political appointees and Heads of government institutions, including SOEs, effective 1st April 2022,” he added.

By Laud Nartey|3news.com|Ghana