The opposition National Democratic Congress (NDC) says the consistent posture of the President Akufo-Addo led administration blaming everything on COVID-19 and Russia-Ukraine war must stop.
According to the NDC, President Akufo-Addo has an uncomfortable relationship with the truth, constantly shifts blame to others and conveniently avoids difficult topics.
“Ghanaians want relief from the socioeconomic pain and hardships visited on them by the NPP administration and not flimsy excuses. Ghanaians want a government that will be truthful even in difficult times and listen to them in humility.
“Incontrovertible facts show that, Ghana’s economy showed signs of serious challenges even before COVID-19 struck, a point that was made by the Country Director of the World Bank, Mr. Pierre Laporte,” Chairman of NDC, Asiedu Nketia stated during an address titled, “The True State of the Nation Address” on Monday at the University of Professional Studies (UPSA) in Accra.
He continued: “For instance, way before the first case of COVID-19 was recorded in Ghana in March 2020, the Public debt had increased from GHS120 billion in 2016 to GHS225 billion in 2019, representing an increase of GHS105 billion in the country’s debt stock.
“Our Debt to GDP ratio had increased from 56% in 2016 to about 70% in 2019 (that is, including the ESLA, Daakye and other hidden debts).
“Before COVID-19, the debt servicing amount had increased from GHS11 billion in 2016 to GHS37 billion in 2019 and constituted 91% of tax revenue.
“Also, the budget deficit had exceeded the legally acceptable threshold of 5% and had hit 7.5% in 2018 and 7% in 2019. Again, before COVID-19, the Ghana Cedi in 2019 was plummeting in double digits leading to the setting up of a 40-member Committee by the government to investigate the causes of the alarming depreciation of the national currency. Surprisingly, this Committee excluded the Chairman of the Economic Management Team – a move described by many analysts as a vote of no confidence in the competence of Vice President Bawumia by his own government.”
Source: Ghana/Starrfm.com.gh/103.5FM
