Published
11 hours agoon
By
AdubianewsFormer Information Minister and NPP Member of Parliament for Ofoase Ayirebi, Kojo Oppong Nkrumah, has praised the NDC-led government for continuing the gold purchase programme initiated by the previous administration, an effort he acknowledged as helping to stabilise the Ghana Cedi. Speaking during the Mid-Year Budget Review debate in Parliament on Monday, July 28, Mr Oppong Nkrumah acknowledged the positive strides the government is making in managing inflation and supporting currency appreciation.
He noted that as members of the opposition, the Minority Caucus has a duty to commend the government when it does the right thing and provide constructive criticism when necessary. The MP emphasised that the continuation of impactful programmes like the gold purchase initiative is in the nation’s best interest and should be encouraged.
Mr Oppong Nkrumah, however, advised the NDC government to ensure that export proceeds are reinvested into the local economy to further support the Cedi’s strength. He cautioned against overreliance on artificial interventions, such as injecting dollars into the forex market, describing such approaches as unsustainable in the long term.
While lauding the NDC administration’s commitment to inflation control and fiscal reforms, Mr Oppong Nkrumah urged the government to increase expenditure on key development initiatives. He pointed out that withholding funds for goods, services, and capital projects under the guise of fiscal discipline could hinder economic growth and long-term development.
The MP expressed concern that several flagship programmes, including the national apprenticeship initiative, the women’s development bank, the “one million coders” programme, and the agriculture for economic transformation agenda, have seen limited progress due to funding delays. He encouraged the NDC government to avoid merely rebranding existing policies but rather commit resources to ensure their full implementation.
In conclusion, Mr Oppong Nkrumah cautioned the government against introducing multiple new taxes, warning that such “panic-driven” revenue strategies could raise inflation and undermine the economic gains achieved so far.
Mahama Prioritises Agribusiness in New Vision for Ghana’s Industrial Takeoff
NDC Government Defends Peace Enforcement Strategy to End Bawku Crisis
NPP’s Benghazi Cautions NDC of Spiritual Consequences Over Cathedral Attacks
NDC Yet to Decide on Akwatia By-Election After MP’s Death
Grow24 to Revolutionize Ghana’s Agriculture, Says Goosie Tanoh
Edem Agbana Endorses 24-Hour Economy as Transformative for Ghana
Haruna Iddrisu: Mahama’s 24-Hour Economy Is a Serious National Plan, Not a Slogan
Wonder Madilo Links Indecent Dressing Among Students to Failures in Ghana’s Education System
Ahafo Goaso Market Woman Blames NDC for Rising Hardship, Longs for NPP Era