Accra: Mr. Kojo Oppong Nkrumah, a former Minister of Information and the NPP Member of Parliament for Ofoase Ayirebi, has praised the Mahama-led Government for its decision to continue the New Patriotic Party (NPP) government's gold purchase programme, which has contributed to the appreciation of the Cedi.

According to Ghana News Agency, Mr. Oppong Nkrumah emphasized the importance of acknowledging the government's positive actions while maintaining a critical stance when necessary. Speaking during a debate on the Mid-Year Budget Review in Parliament, he reiterated that the Minority Caucus is committed to offering commendations to the government for its right decisions, while providing constructive criticism when needed.

In his remarks, Mr. Oppong Nkrumah advised the government to ensure that exporters reinvest their foreign exchange earnings into the local economy to sustain the Cedi's appreciation against the US Dollar and other major currencies. He cautioned against the practice of injecting dollars into the trading market as a means of suppressing the currency, labeling it an unsustainable approach.

Mr. Oppong Nkrumah acknowledged the government's efforts in continuing the gold purchase programme and implementing inflation reduction initiatives. However, he criticized the government for its spending patterns, distinguishing between fiscal discipline and the failure to meet fiscal targets. He highlighted the absence of funds for essential goods, services, and development projects as a significant concern, warning of long-term economic repercussions.

The lawmaker pointed out several flagship government programmes that have stalled due to inadequate funding, including the national apprenticeship programme, women's development bank, one million coders programme, agriculture for economic transformation agenda, and the 'big push' infrastructure programme. He urged the government to refrain from rebranding initiatives launched by the previous administration.

Additionally, Mr. Oppong Nkrumah called on the government to reconsider its plan to introduce eight new tax measures, suggesting that such 'panic revenue raising measures' could exacerbate inflation and undermine the progress made in stabilizing the Cedi.

Accra: Mr. Kojo Oppong Nkrumah, a former Minister of Information and the NPP Member of Parliament for Ofoase Ayirebi, has praised the Mahama-led Government for its decision to continue the New Patriotic Party (NPP) government's gold purchase programme, which has contributed to the appreciation of the Cedi.

According to Ghana News Agency, Mr. Oppong Nkrumah emphasized the importance of acknowledging the government's positive actions while maintaining a critical stance when necessary. Speaking during a debate on the Mid-Year Budget Review in Parliament, he reiterated that the Minority Caucus is committed to offering commendations to the government for its right decisions, while providing constructive criticism when needed.

In his remarks, Mr. Oppong Nkrumah advised the government to ensure that exporters reinvest their foreign exchange earnings into the local economy to sustain the Cedi's appreciation against the US Dollar and other major currencies. He cautioned against the practice of injecting dollars into the trading market as a means of suppressing the currency, labeling it an unsustainable approach.

Mr. Oppong Nkrumah acknowledged the government's efforts in continuing the gold purchase programme and implementing inflation reduction initiatives. However, he criticized the government for its spending patterns, distinguishing between fiscal discipline and the failure to meet fiscal targets. He highlighted the absence of funds for essential goods, services, and development projects as a significant concern, warning of long-term economic repercussions.

The lawmaker pointed out several flagship government programmes that have stalled due to inadequate funding, including the national apprenticeship programme, women's development bank, one million coders programme, agriculture for economic transformation agenda, and the 'big push' infrastructure programme. He urged the government to refrain from rebranding initiatives launched by the previous administration.

Additionally, Mr. Oppong Nkrumah called on the government to reconsider its plan to introduce eight new tax measures, suggesting that such 'panic revenue raising measures' could exacerbate inflation and undermine the progress made in stabilizing the Cedi.