In a stark warning, Edudzie Tamakloe, a member of the NDC legal team, has declared that the upcoming 2024 Budget Reading on November 15, 2023, will mark the “final burial” of Ghana’s economy.
Expressing deep skepticism and concern, Edudzie articulated his fears regarding the potential repercussions of the budget announcement, painting a grim picture of the economic landscape.
Edudzie’s words carried a weighty message, reflecting the frustration and disillusionment that many Ghanaians share.
“We are not expecting anything useful from this budget. It has been seven years of pain and anguish. It is a set of promises that have landed Ghana and its citizens in a serious case of quagmire. Nothing good is going to come out of the budget. I think tomorrow will just be what I will call the final burial of Ghanaians. That is basically what the budget will do; to announce the final burial.”
Edudzie Tamakloe
Mr. Edudzi Tamakloe did not mince words when reflecting on the aftermath of the 2022/23 budget.
“The 2022/23 budget brought in its wake, caused unprecedented hardship and, in some cases, death”, he recalled.
He highlighted the lingering issues stemming from the Domestic Debt Exchange Program, emphasizing the adverse impact on innocent pensioners, bondholders, and investors due to what he described as “reckless government mismanagement of the Ghanaian economy.”
Edudzie expressed his pessimism about the potential positive outcomes of the impending budget, asserting, He specifically pointed to the rumored return of the luxury vehicle tax, now reclassified as an emission tax, predicting further challenges for taxi drivers and the general public.
Tax Burdened Economy
Furthermore, Mr. Edudzie criticized the administration’s economic management, debunking their promise to transition from taxation to production. Edudzie revealed that the overall tax revenue collected by the Akufo Addo-Bawumia administration in seven years exceeded GHS 300 billion, contrary to their campaign commitment.
Edudzie characterized the government’s behavior as akin to a black hole, consuming everything in its path and causing irreversible damage to the economy. He questioned the notion of “burden sharing,” arguing that the government’s decision to run a Domestic Debt Exchange Program did not align with the responsibility it owed to the people.
Highlighting the government’s lack of transparency, Edudzie criticized its failure to meet conditions set by the International Monetary Fund (IMF).
“The IMF’s second tranche, which is the 600 million, is dependent on certain conditions. One of the conditions is that you should have gotten the agreements with your external creditors, particularly the Paris Club and the Chinese, of course. You have not been able to do that.”
Edudzie Tamakloe
As Ghana anticipates the reading of the 2024 budget, Edudzie’s poignant warnings shed light on the prevailing economic challenges and the skepticism surrounding the government’s ability to steer the nation towards prosperity.
The nation braces itself for the potential fallout, mindful of the critical decisions that lie ahead and the impact they may have on the economic well-being of its citizens.
He however said that he will expect the government to cancel all taxes on sanitary pads absolutely. Moreover, he also underscored that the government must a matter of fellow feeling for the people of La, feature the La General Hospital prominently in the budget. He expressed his worry about how the operational hospital was collapsed without due arrangement to rebuild it as soon as necessary.
According to him, the economic failure is a strong promise for the government to be voted out of office. He thus urged Ghanaians to resist any idea of voting for the NPP and Bawumia. He believes that such a vote will be in favor of a third term for Nana Addo as well.
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