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The National Democratic Congress (NDC) has more superior records on managing Ghana’s economy far better than the the New Patriotic Party (NPP) government of President Nana Addo Dankwah Akufo-Addo and his team, Isaac Adongo, the Honourable Member of Parliament for the Bolgatanga Central constituency, has posited.
Addressing a forum in Accra, organized by a Youth Group – ‘Coalition For Restoration (CFR)’ he said the NDC has managed and handed over a much more stable fundamentals of the economy even in the face of challenges of the oil sector, to the NPP.
He revealed that the NPP strategically postponed the maintainance of the FPSO at the Jubilee field to next year, instead of the twelve weeks maintainance routing set aside, so that they could get oil to manage the Gross Domestic Product (GDP).
He indicated that the three months output generated for this year was the 2018 output, and that led to a reduction in growth prepared for 2018; all was just to ‘bamboozle’ and convince Ghanaians that they (Nana/Bawumia) have also done something good, he added.
Speaking on theme; “Analysis And Expectation Of 2017/18 Budgets To Drive The Change From Taxation To Production”, the MP was of the view that the Vice President Dr. Mahamudu Bawumia, then NPP running mate used an economic lectures to discuss propaganda and allowed their media cabal to do propaganda with the party’s manifesto.
He said NPP used their propaganda for policy implementation, and it is exposing them now; this he said has been manifested by the budget presented by Ken Ofori-Atta, to Ghanaians.
He alleged the NPP government packaged deception in their budget of a certain debt to GDP ratio in September, backed with strong PR tools to convince Ghanaians, but fortunately and courtesy CFR there was an opportunity to digest the budget.
Adongo, who is also a financial analyst said the Ex-President Mahama led NDC government manage a difficult economy that had gone through serious challenges from the global volatility. He said it is why the economy needed fewer men to manage, unlike the 110 New Patriotic Party (NPP) ministers in charge now.
He explained that Ghana’s total revenue base, and over the five years amount collected out of the Growth Domestic Product (GDP) always stood around 21.6%, so the NDC Government decided to grow the economy by a nominal value of about 28%; in spite of what the NPP sworn to tax Ghanaians, 33% more.
In view of this, he said the Nana Addo led NPP government came to parliament through Ken Ofori-Atta, Finance Minister to say they are going to audit companies for 500 million; to this, Mr. Adongo asked, who has ever valued and yield from compliance.
He further revealed that no professional tax policy expert would advice anybody to value compliance; after chastising the NDC government, today, the NPP have realized the Mahama led NDC Government was right and now agreed to do 21.6% of GDP; so they have considered that it is potential given all the compliance and other tax measures that are available.
So they cannot be valuing yield in this compliance individually, he posited. “They said we were incompetent, you see how they are boolish, now they are quiet”, he stressed. He further added that by the time the NPP came from mid-year review, they have descended from 33% to 28%.
After disgorging lies to deceive Ghanaians, the Nana Addo/Bawumia government came back to 21.6% (ie. 22%). Mr. Adongo disclosed that “it is good for people to face reality, the 22% which they were hiding, rather mirrors the nominal growth figure they (NPP) were looking for”.
He charged the Vice President, Dr. Bawumia and his economic team members to eschew pride and arrogance and listen to advice to help move Ghana’s economy forward. As we speak, the NPP government is suppressing the deficit figures, because they bragged they are not going to borrow to run the affairs of this country, the MP noted.
He also reminded the forum that the NPP touted there is all the money here, in Ghana and they sworn to achieve their target of 6.3%. This Mr. Adongo quizzed, “if one is supposed to raise certain revenue throughout the year, with about 8 billion quarterly, and last quarter (from October, November and December) supposed to be about 13 billion, to keep the 6.3% deficit, how then do you spend over 16 billion more?”.
He explained that the NPP indicated that they want to spend over 16 billion for the three (3) months, meanwhile, the budget finance minister presented shows they have made barely 33% for 9 months; this the Hon MP revealed that the revenue projections for the 3 months are outrageous compared to the intended expenditure of over 16.6 billion, this clearly shows the NPP is hiding the true extent of Ghana’s deficit.
But he added quickly that, unless the government has certain hiding arrears intend paying at the end of the 3 months, because how could someone who cannot spend 60 million, or spends only 9 million out of 1 billion suddenly think of spending 16.6 billion a month.
He said figures are like pregnancy, and no matter how the government hid it, will come up at all cost, because all their effort to enable them go silence after the financial year and come back around July next year to lie Ghanaians, has failed.
Hon. Member of Parliament for Bolga Central alleged the Governor of the Central Bank of Ghana is now playing as the lead political actor for the governing NPP.
Following the difficulties the NPP government is facing due to its poor managing of the economy, Mr. Adongo questions why the Ghana Statistical Service (GSS) could not come out with the third-quarter GDP, whilst the year is coming an end, and next week is Christmas, something that has never happened in Ghana. He suspected the government trying find a data to massage the figures the Finance Minster, Ken Ofori-Atta brought to Parliament.
He also alleged further the GSS is entering into a deal with the NPP government to hide figures and this was what is making them (GSS) delay and December is ending without third quarter figures; meanwhile the Finance Minster brought mid-year review figures to parliament to repeat what he came to do in July, 2017.
The previous Financial Ministers and their budgets have the available data up to September to project year out-turn; but strangely, Nana Addo/Bawumia and Ken Ofori-Atta has nothing like that.
Source: Delali A. Awuyeh