The 2022 Budget Statement and Economic Policy has been referred to as a “Sika mp3 dede budget” by the minority leader in parliament, Haruna Iddrisu.
The popular’sika mp3 dede’ that President Nana Addo Dankwa Akufo-Addo used in his final speech to the country inspired the Akan expression, which literally translates to ‘debt does not like noise.’
The Minority Leader criticized the Minister of Finance, Ken Ofori-Atta, for excessive borrowing as he stood up to second the motion on the floor of parliament to adjourn the session.
He noted that given the minister’s presentation of the budget’s specifics and his own admission that the nation is heavily indebted, the expression “Sika mp3″ dede”best fits budget”.
“We have heard the honourable Minister of Finance, before this august House, declare Ghana a high-risk, distress debt country. So, Mr. Speaker, this budget is Ɛka mpɛ dede budget and therefore, he’s put the country on the path to debt restructuring, which he has announced as debt exchange program.
“So, Mr. Speaker, this budget is Ɛka mpɛ dede budget because he has announced debt restructuring in the name of a debt exchange program,” Mr Iddrisu stated.
In addition, Haruna Iddrisu urged the minister to rein in the government’s borrowing binge.
Mr. Speaker, my first request to the minister is that he regularize the borrowing authorized under the 2016 Bank of Ghana Act as modified.
“You have to come back to this House to seek our mandate and authorization for your excessive borrowing from the Bank of Ghana, that needs to be regularized,” he said.
As required by his constitutional duties, the Minister of Finance, Ken Ofori-Atta, delivered the “Nkabom” budget to the parliament on November 24, 2022.