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The government has been criticized for sacrificing the needs of Ghanaians in order to impress the supervisors of the economy, the International Monetary Fund.
The main opposition party, the NDC, represented by a member of its economic and financial team, Isaac Adongo, said the government had attempted to bridge the gap between spending and revenues by cutting spending .
Essentially, the government saved money to reduce its deficit under IMF conditionalities.
But in doing so, the NPP government has "continually deprived the Ghanaian people of hunger." He added that keeping money had not only caused difficulties, but had also delayed investments in infrastructure.
He lamented that Ghana can join the elite countries of the world.
The NDC economic conference was presented as the opposition's response to the plenary session of the government by Vice President Mahamudu Bawumia.
The Vice President spoke about "the efficiency of expenditure management", which had reduced the difference between spending and revenues – budget deficit – by about 3.8% by 6.8%. in 2016.
"For the first time in ten years … our tax revenues have exceeded all government spending, not counting debt service for two consecutive years," said the vice president.
Adongo, however, maintained that, despite efforts to align spending with revenue, the IMF is not impressed.
He said that the method used to achieve this was "brutal". The IMF, he said, expressed disappointment at what he called a low figure for government revenue.
Isaac Adongo suggested that a better way to reduce the budget deficit would be to mobilize more revenue instead of limiting spending in a country where public spending has an impact on business and jobs.
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