A development Economist and research fellow with the Center for Social Policy Studies at the University of Ghana Legon, Dr George Domfeh says the 2023 budget recently presented by the Finance Minister has “no future”.
He claimed the budget will rather inflict hardship on Ghanaians and create unemployment.
“This budget is not going to grow the economy or create jobs for the masses. It’s not going to solve the current hardship in the country when you talk of inflation,” he said in an interview with NEAT FM’s morning show, 'Ghana Montie'.
Dr George Domfeh also commented on the Bank of Ghana's signal that inflation is likely to peak in the first quarter of 2023.
This was disclosed by the Governor of the Central Bank, Dr Ernest Addison, at the end of the Monetary Policy Committee meeting for November 2022, which announced an increase in the policy rate to 27%.
The BoG projected inflation for 2023 to end at around 25%, a figure contrary to the 18.9% the government projects in its 2023 budget.
However, Dr Domfeh claimed ‘the system will be hard for most people.”
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