Isaac Adongo, Member of Parliament for Bolgatanga Central, is unhappy with Vice President Mahumudu Bawumia’s speech on the state of the Ghanaian economy.
Mr. Adongo stated the speech was poor, failing to address the major causes of Ghana’s current economic problems.
“If you listen to Dr. Mahamudu Bawumia, you will notice that he did not engage in any real intellectual conversation, which is typical of him… You’ll be able to tell that this person is in trouble.”
“Bawumia made no mention of our net international reserves,” Mr. Adongo pointed out, “which have gotten so depleted that investors now perceive the cedi as a deteriorating currency since there is no FX to back it.”
The MP was particularly upset that the Vice President blamed a rise in food costs on the Russia-Ukraine conflict.
“This is a man who claims that the main cause for the rise in food prices is that Ghana imports 30% of its wheat from Ukraine. When was the last time you ate something made from wheat? Is wheat our main source of nutrition in Ghana?”
“On the one hand, you claim that your Planting for Food and Jobs program is so successful that there is a surplus of food, but on the other hand, you argue that 30% wheat is enough to cause food inflation in Ghana.” “You can tell there’s an issue rather obviously,” he told Eyewitness News.
On Thursday, April 7, 2022, the Vice President gave the speech.
The Vice President addressed problems such as Ghana’s mounting debt stock, cedi depreciation, inflation rate, and the impact of Russia’s invasion of Ukraine on the Ghanaian economy at an event jointly organized by the Danquah Institute and the NPP’s TESCON in Kasoa in the Central Region.
During his speech, he remained silent on the contentious Electronic Transfer Levy (E-levy).
The only time the Vice President got close to referencing tax policy was when he was discussing taxes and levies that the Akufo-Addo government had repealed or decreased in the last five years.
