Minority Leader in Parliament, Haruna Iddrisu says the anticipated 2022 budget will not be assuring, therefore, Ghanaians should expect more economic hardships in the coming year.

Speaking on Joy FM's Super Morning Show on Wednesday, Mr Iddrisu bemoaned what he calls unclear data by government on arrears in several ministries.

This the Member of Parliament for Tamale South said causes him to worry about the economy former President John Mahma and the National Democratic Congress (NDC) will inherit in 2025.

"I don't expect any rosy economy going forward. Ghanaians should expect and anticipate increase hardships early next year. That is what Ken promises to do and what he will do.

"I worry about the nature and character of the economy John Mahama may inherit in January 2025 because they [government] is not clear with the data. In all the ministries, departments and agencies, there are arrears sitting there that are not accounted for. They have no adequate provision for contingent liability and therefore it is problematic."

He made the statement ahead of the presentation of the 2022 budget statement by Finance Minister, Ken Ofori-Atta.

Prior to the presentation, Mr Ofori-Atta had hinted that the 2022 budget will be heavy on job creation and entrepreneurship. 

“I don’t think we can wait any longer, because the time is now on how to create an entrepreneurial state and to deal with this issue once and all. Certainly the issues of youth and jobs will be the center of this budget presentation.”

But the Minority leader insists that Ghanaians should not expect a hopeful budget to alleviate their hardship.

For him, what government should do is to invest heavily in the country's exportation as such initiative will enable the economy to recover and reduce the hardships faced by Ghanaians.

Mr Iddrisu says the Akufo-Addo-led administration cannot always rely on increasing taxes to address its short fall and attempts to recover the economy. Thus, the need to look at other alternatives such as expanding the export portfolio.

"We all as a country must take a position on expanding exports as a way forward. Our exchange rate regime and the epileptic fall of the cedi - what this does to the economy is you are spending more on interest servicing. So very little is left for statutory payment before you come to compensation.

"But you will hear the Finance Minister and Dr Mahamudu Bawumia say that 'hail us, the foreign exchange is relatively stable.' You inherited a dollar to ₵4.2, today the same dollar is almost ₵6. You have the pound almost at ₵8.

"You cannot say conveniently, I will increase taxes to deal with it. There are other structural decisions we expect the budget to announce which must seek to deal with it, that is, expanding your export portfolio and investing more in your exports in order to strengthen the cedi and stabilize for long term and not a short term monetary intervention," he explained.

Meanwhile, Mr Haruna Iddrisu says in measuring the standard of living and growth of the economy, employment must be a key tool.

"We are still bogged down with Keynesian economics - inflation between 7 and 10 per cent, macroeconomics and thry say that the indicators are good.

"We must now begin to measure our economics success by the a proportion of the population that is benefiting from government's intervention. I think unemployment must be a key measure. It has always been my position that the best measure of living standard is employment."

Ahead of the 2022 budget reading, some institutions have urged government to remove taxes on petroleum products and rescind its decision on the removal of port clearing discounts on some selected goods.