Member of Parliament for Ajumako Enyan Essiam Constituency and Former Deputy Minister of Finance under the John Dramani Mahama led administration, Cassiel Ato Forson, has predicted that 2022 will be a year of economic doom for Ghana.
He premises his conclusion on the fact that the government will be borrowing extremely on the domestic market to undertake its projects and run the country since the Eurobond has been closed to Ghana for at least the first half of the year.
Ato Forson also argues that in 2022 there will be a multiplicity of taxes and levies to be introduced by government onto the citizens and that will burden the people of Ghana and make life very unbearable.
He makes the point that the country’s currency keeps losing its value under the current administration even though they promised to be better managers of the currency and the economy.
Read his full post on Facebook here.
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.