The Ranking Member on Parliament’s Finance Committee, Dr Cassiel Ato Forson, has advised Vice President, Dr Mahamudu Bawumia, to accept that Government has failed in ensuring the growth of the Ghanaian economy.

According to Dr Ato Forson, it is unacceptable for Government to blame the woes citizens are facing on the Russia-Ukraine crisis. He said this is because other countries, despite feeling the pinch of the crisis, have managed to grow their economies.

In response to submissions made by the Vice President on Thursday, Dr Ato Forson quizzed: “Why did the Russia-Ukraine war not directly impact the economies of neighbouring Ivory Coast and Togo?”

Why did the Russia – Ukraine war not directly impact the economies of neighbouring Ivory coast and Togo?
Admit failure and let’s move on! pic.twitter.com/MbTM63AnsZ
— Cassiel Ato Forson(PhD) (@Cassielforson) April 7, 2022

Vice President Dr Bawumia while addressing Ghanaians on the state of the economy at the National TESCON Training and Orientation Conference yesterday noted that aside from the Covid-19 pandemic, the Russia-Ukraine war is adversely affecting the prices of food supplies.

“The increase in commodity prices has been exacerbated by the Russia-Ukraine conflict. Russia and Ukraine together account for 30% of global wheat exports; the longer the conflict ensues, the greater will be the disruption to global food supplies. The conflict is also likely to slow down global growth.

“According to the AfDB, the price of wheat has shot up by 62% since the war began, the price of fertilizer is up by 300%, and the price of maize is up by 36%. Here in Ghana, some 60% of our total imports of iron ore and steel are from Ukraine; Russia accounts for some 30% of Ghana’s imported grains, 50% of flour, and 39% of fertilizer.

“So we are directly affected by the Russian-Ukraine war. Unfortunately, we do not know when it would be over,” he said.

Believing that government is solely to blame for the current state of the economy, the former Deputy Finance Minister told the Vice President to “admit failure and let’s move on.”