2022: Brace-up for more hardships- Dr. Ato Forson
Former Deputy Finance Minister Dr. Cassiel Ato Forson has urged Ghanaians to brace-up for more hardships in 2022 as he predicts crippling economy in the new year.
According to the Ranking Member on Finance Committee of Parliament Dr. Forson, prices of goods will be increased by at least 30%.
Apart from that, the Ghanaian cedi now trading at almost 6.5cedis to 1 US Dollar is likely to hit 7 cedis before End of the year whilst fuel prices are set to go up by 18 pesewas this week is likely to go up again on account of a weak cedi.
Below are grounds for Adwumako E. Anyan MP’s argument:
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.
Meanwhile, below are guidelines for government policy directives on removal of reduction values of imports on selected items: