The Vice President Dr Mahamudu Bawumia did a comparative analysis in his public address on the economy due to the accusation made by former President John Dramani Mahama that the Akufo-Addo administration has mismanaged the economy, Nyhiaeso Member of Parliament, Dr Stephen Amoah, has said.
Dr Amoah admitted that the country is going through challenges but these challenges are as a result of factors beyond the control of the government.
However, he said, in the face of these factors, Former President Mahama and the National Democratic Congress (NDC) had accused the Akufo-Addo administration of destroying the economy hence, the need for Dr Bawumia to do the comparative analysis.
Speaking on the New Day show on TV3 Friday April 8, he said “Yesterday was one of the days I was very happy because of the presentation that was made.
“A number of questions had been asked by stakeholders and yesterday, we needed to provide answers, I think that was done except those who have already taken prejudiced decision. I am not saying everything said was 100 per cent.
“There was necessity for us to do the references in the analysis for us to know because the former President [John Mahama] has accused us for mismanaging the economy. Some of the factors you can’t blame the government except if you want to do politics.”
During the address, Dr Bawmuai indicated that the economy was doing well until the pandemics and the geopolitical tension between Russia and Ukraine emerged.
Regadring the debt situatiomn, Dr Bawumia said that in addition to the Covid expenditure, the banking sector clean up exercise and payment of excess power in the energy sector as a result of the contracts signed by the National Democratic Congress (NDC) administration, accounted for the rising public debt.
He stated also that the government needed to save the lives of the people hence the decision to prioritise spending in the health sector in order to restore the health of the people.
Speaking at a forum held by TESCON, students wing of the New Patriotic Party (NPP), he said spending in all these areas cost the government ¢50.1billion.
But for the banking sector and the Excess Energy payment, he said the debt would be hovering around 68 per cent instead of the 81 per cent.
“Between 2019 and 2021 Ghana’s debt to GDP increased by 17.6 percentage points of GDP. It should be noted that without the 15.1 billion of the exceptional items – the financial sector and then the energy and Covid Ghana’s debt to GDP would have been about 68 per cent instead of the current 80 per cent,” he said.
Source: Modern Ghana
