14.5 C
New York
May 25, 2020
The Republic
  • Home
  • News
  • Akufo Addo’s administration doing significant harm to economy –Akandoh
News Politics

Akufo Addo’s administration doing significant harm to economy –Akandoh

Hon Kwabena Mintah Akandoh, Member of Parliament (MP) for Juaboso has accused President Akufo Addo administration saying the the administration was doing significant harm to the economy and that it could not rescue Ghana from economic recession.

He declared that the government was not taking the right steps to save the economy and described the Budget Statement of Ken Ofori Atta, Finance Minister, that the government would bring Ghana out of recession through fiscal discipline and diversification as “empty rhetoric.”

The Minister for Finance, Mr. Ken Ofori-Atta, told parliament last Thursday November 15, that government has targeted to grow the economy by 7.6 percent in 2019, achieve single-digit inflation of 8 percent, fiscal deficit of 4.2 percent of Gross Domestic Product (GDP) and primary surplus of 1.2 percent of GDP.

But reacting to the budget statement, Mr Akandoh said that the figures showed an abject lack of fiscal discipline in the management of the nation’s finances by the AkufoAddo administration.

“Per my view, the Finance Minister has said nothing, nothing is in this 2019 budget, the GDP figures released by the Ghana Statistics Services shown that this government is doing significant harm to non-oil sectors of the economy‎,” he said.

“So I think the Minister has to come back to parliament to read another budget, because this budget has no hope, it is a hopeless, nothing is in that budget which sort to address the problems that Ghanaians are facing now, ” he said.

The former Deputy Minister of Lands and Natural Resources labelled the 2019 budget presented by the Minister of Finance, as empty, uninspiring and hopeless, as it does not offer any measures to reduce the suffering and hardship of Ghanaians.

He stated that, the budget failed to spell out measures to rescue banks and companies from collapse and stop the increasing lay-off of workers, while the economic targets for 2019 were not achievable.

Giving his overall impression about the 2019 budget statement, Akandoh said that the fiscal document provided no hope for a better economy in the coming year.

He noted that the 2019 budget failed to state how Ghanaians would be relieved from the current economic hardships, adding that there was nothing said in the 2019 budget that Ghanaians have not heard in the 2018 and described the Budget as hopeless and nothing more than just rhetoric

“I am disappointed because the budget to me is empty. It is empty because the real statistics does not support a lot of the talks. This is just a symbolic budget, nothing is real. In fact for the last two years, that has been the rhetoric and we never saw what they said they were going to do. All the roads and other projects mentioned in the budget are projects either commenced or funds secured by the NDC before leaving power.”

“Since 2017 till date, they have being recycling same without any tangible plan. They borrowed and have nothing to show for what they use the funds for. I can’t see anything , I will like to hear and see when the cocoa roads and the Eastern Corridor road,” Mr Akandoh stated.

He expressed surprised that, the Finance Minister deliberately failed to mention that the NPP administration has returned our beloved country to a debtor nation by accumulating over GHS40 billion debt through which he had mortgaged the future of the country.

He added that the budget was anchored on more borrowings which he noted are clear admission that the government lacks the capacity and competence to run a development-oriented economy as desired by Ghanaians.

Sources : www.therepublicnewsonline.com/Felix Nyaaba

Related posts

Stop Whining And Work- Avedzi told Amidu

Felix Nyaaba

Work hard to return NDC to power, MP urges Binduri constituents

Felix Nyaaba

Builsa South MP donates 160 cement bags for Community projects

Felix Nyaaba

Leave a Comment