General News of Thursday, 3 August 2017
The Member of Parliament for Bolgatanga Central Isaac Adongo has described the Finance minister Ken Ofori-Atta as an epitome of scandal.
The attack comes on the back of claims by the Minority that the Finance Minister cooked figures in his mid-year review budget presentation.
Speaking to Starr News, Mr. Adongo said “this Minister of Finance is an epitome of scandals, why will he be deducting the figures of our financial reports for the country”.
He continued: “Has the minister been able to explain away how he issued a bond of 2.25billion in four hours? His own documents that he brought to parliament shows that the book building approach that he kept talking about only raised 4.9billion Ghana Cedis, how did he raise the 4.8billion? Up to date has he been able to answer? He is unable to answer, he is unable to answer the scandal”.
Mr. Ofori-Atta told Parliament in his mid-year review budget presentation that the macro-indicators for the first half of the year are pointing in the right direction.
He said: “Progressively, confidence is being restored in the economy and we are hopeful that it will be sustained. The macro-indicators for the first half of the year are pointing in the right direction. We replaced the 17.5% standard rate to a 3% flat rate. We reduced the special petroleum tax from 17.5 to 15% and abolished duties on spare parts.
“The deficit on commitment basis is now on 10.9%, up from the previous 10.3%. In recent years, the country accumulated high debts; our debt stock increased to GhC122bn, which is 1154%. We inherited a weak economy, characterized by high fiscal deficits.”