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Ato Forson: 2022 is a year of Economic Misery and inflation!

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Cassiel Ato Forson, the Ranking Member of Finance has described 2022 as “a year of Economic misery and inflation” warning Ghanaians to “brace-up for more hardship”.

In what appears to be his New Year Economic Message to his countrymen and women, the National Democratic Congress’ (NDC) Member of Parliament (MP) for the Ajumako-Enyan-Esiam Constituency in the Central Region, explained that “prices of goods” would “be increased by at least 30%”.

The 43-year old former Deputy Finance Minister in the Mahama administration, also mentioned that “fuel prices” are “set to go up by 18 pesewas this week”, and “likely to go up again on account of a weak cedi”.

This, he pointed out, was because “the Ghanaian cedi now trading at almost 6.5cedis to 1 US Dollar is likely to hit 7 cedis before End of the year!”

Also awaiting Ghanaians from the Akufo-Addo government, the MP said in a Facebook post today, Sunday, January 2nd 2022, is a “multiplicity of taxes and Levies to take effect by End of January 2022”.

He further projected interest rates to go up again, because “government will be borrowing heavily from the domestic market since the Euro bond market is closed to Ghana for, at least, the first half of 2022”.

Few days ago, the same NDC MP reacted to a statement issued by the Commissioner of Customers, Col Kwadwo Damoah on December 30th, 2021 saying that “unfortunately, the Akuffo-Addo/Bawumia Government has reversed the discount on all items using Benchmark values effective today”, adding “Please Expect Prices of Goods such as Rice, Sugar, pharmaceuticals, cement, roofing sheets to go up by at least 30% effective today”.

 

Below is what he posted on Sunday;

2022 is a year of Economic Misery and inflation!

Folks, we need to brace-up for more hardship this year.

Here is why:

1) Prices of goods to be increased by at least 30%

2) The Ghanaian cedi now trading at almost 6.5cedis to 1 US Dollar is likely to hit 7 cedis before End of the year.

3) Fuel prices set to go up by 18 pesewas this week is likely to go up again on account of a weak cedi

4) Multiplicity of taxes and Levies to take effect by End of January 2022.

5) Interest Rates likely to go up again

6.) Government will be borrowing heavily from the domestic market since the Euro bond market is closed to Ghana for, at least, the first half of 2022.

Asem oo

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