The Finance minister Ken Ofori Atta may have survived moves to remove him from office because of COVID-19 but his predecessor Seth Terkper is convinced his successor’s crimes are older than COVID.
The minority led by Member of Parliament for Tamale Central Inusah Fuseini moved a motion for a vote of censure to be passed on the Finance minister for breaching the Fiscal Responsibility law.
Inusah Fuseini made the argument that the over 11% deficit target in the Supplementary Budget was higher than the 5% limit set in the law hence the Finance minister should be made to face the punishment prescribed for the breach of the law.
The Finance minister however survived with the backing of the majority in parliament after arguing that he could not have anticipated the breach because it was due to the COVID-19 pandemic.
Seth Terkper however told Ama Pratt on Pan African Television, Ken Ofori Atta has breached the law since 2018.
He said the fiscal deficits recorded by the country since 2018 have been higher than 5%.
Mr. Terkper said the Finance minister has escaped censure for his actions by refusing to add the financial bailout cost.
He said the financial bailout cost was an expenditure made on budget with money generated through borrowing that is being paid with government revenue hence needed to be added in calculating the deficit.
The Former Finance Minister said his successor should have even anticipated the deficit overrun and sought parliamentary approval immediately after he borrowed over GH₵14billion.
Story: Sena Nombo/Radiogoldlive.com