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December 16, 2018
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2019 Budget Will Destroy Ghana’s Economy – SEGE MP

Ghana’s leading opposition party, the National Democratic Congress(NDC) Member of Parliament for Sege,Hon Christian Corletey Otuteye, has taken a swipe at the New Patriotic Party ( NPP)-led administration over the nation’s economy, which has formally gone into recession.

The Sege lawmaker who is a member on the Special Budget Committee of parliament, has accused the administration of President Akufo Addo of destroying Ghana economy, arguing  that the country is in its worst economic state in 26 years under forth republic.

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 Otuteye said the situation is worsened by the fact that every sphere of the Ghanaian socio-political space is negatively affected, owing to the implementation of the administration’s archaic and incoherent economic policies.

The soft spoken NDC MP said, the 2019 budget presented to parliament by Minister for Finance, Ken Ofori, do not capture the situation underground, describing it as a budget filled with “bogus” promises to destroy the economy built by the NDC government.

In the view of Otuteye, the budget is unrealistic and wondered why the government would resort to borrowing billions from China to finance the budget if thing were good.

“It is obvious that this budget is an extension of the campaign promises of the NPP government, presented as a manifesto filled with empty promises which implementation will be inconclusive.”

“Every sector is standstill, roads, health , education, youth unemployment is increasing, and all what the know is to borrow and we don’t see what the use the loans and all those borrowed money for, ” the Sege MP jabs the government.

Mr Otuteye said, he and his colleagues minority are aware the New Patriotic Party-led Government planned to borrow more in the nearest future in addition to the century US$50 billion, a move he described as capable of mortgaging the future of the coming generation of Ghana.

He said, there has never been any known economy in the world where government deliberately mortgage the future of its nation by borrowing excessively to finance partisan interests while hiding under bogus social programmes.
The 2019 budget, he said is repetition of the 2017/2018 budgets which never been implemented, nothing that, “all what they said they were going to do in the 2017/2018 budget are in this 2019 budget. So there is nothing good in this budget. The NPP just come to destroy what we (NDC) built.

“By all standards, I will say the 2019 budget, which is the third major economic policy outing of this government, is completely unrealistic and duplicitously embellished with no pragmatic policies, a development that confirms fears by economy watchers and investors that this administration is obviously ill-equipped for governance.”

“We are indeed shocked that with all these collapsing of banks, thousands of Ghanaians laid off from jobs, President Nana Addo and his appointees still have the moral right to describe the 2019 budget as a hope budget. This is a hopeless budget and in twi, I will say it is ‘Ahonkyere budget,’ he added,

The MP said,there are several important projects in Sege, including roads, schools,and  clinics started by the previous government of the NDC but  have been abandoned by the current NPP government which are  making live unbearable for his constituents.

He added that, the Akufo Addo government is good at propaganda and best at destructive of state policies and projects.

Source: www.therepublicnewsonline.com/Felix Nyaaba

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