Finance Minister Ken Ofori-Atta says Ghana’s economy is now buoyant under the Nana Addo-led government in less than two years.
He described the economy under the Mahama-led government as ‘high-risk’ to foreign investors and locals.
The Finance Minister said this when he presented government's fiscal plan to Parliament on Thursday, in accordance with Article 179 of the 1992 constitution.
The budget statement which is the third of the Akufo-Addo administration addressed very pertinent issues that have arisen over the course of time.
The government's first ever budget, christened 'Asempa budget' read in March 2017 brought to life the flagship policy, Free SHS and the abolishing of taxes termed 'nuisance tax'
The second, 'Adwuma budget' read in November 2017 promised to bring about jobs and economic prosperity for Ghanaians. This led to the creation of the NaBCo programme where 100, 000 graduates are to be given 3-year employment under 7 modules.
Themed “A Stronger Economy, for Jobs and Prosperity,” this budget is the first of the Akufo-Addo administration after its exit from the IMF bailout - by the end of the this year - signed unto in 2015 by the then Mahama-led government.
Mr Ken Ofori-Atta touted the current administration's management of the economy, especially in the improvement of the macroeconomic indicators within two years after a change of government.
“A change in the management of the economy from incompetence to competence, change from rising debt to GDP ratio to declining debt to GDP ratio,”
“ Change from weak banking system to better supervised system, a change from manual process of clearing goods to paperless process, a change from dumsor to reliable power, a change from lack of access due to cost of education to implementation to Free SHS, a change from cancelling teacher training allowance to restoration of teachers allowance” he said
"Our economy has changed from one with a weak banking system to a strong, well-capitalised banking system, from a rising debt to GDP rate to a declining debt to GDP rate" he added.
Source: King Edward Ambrose Washman Addo/Peacefmonline.com/ Twitter: @Washman5/ Instagram: Ambrose_wash
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
WE HEAR YOU
THE LIKES OF YOU ARE THE ONE'S LEADING GHANA BACKWARDS TOGETHER WITH YOUR INCOMPETENT NPP PARTY. LEARN TO SPEAK THE TRUTH FOR ONCE. GOD WILL JUDGE ALL OF YOU WHO SEE RED AND YOU SAY ITS WHITE.
If Ghanaians vote the NPP out in 2020, they will have themselves to blame. Though Ghana is not a paradise now, we are all in difficulties, but I can see more difficulties should it be Mahama governing Ghana now. Even though I don't support any particular political party, I think the NPP are better managers. Think of your future and that of your kids, not your instant pocket.
President Akufo-Addo has very good plans for Ghana but I am sorry some including the Finance Minister doesn't seem to be on board with the direction the President wants to take Ghana in ensuring the economic emancipation and freedom of Ghana and I am afraid, it might derail the NPP's chances of retaining power in the 2020 elections. It's a fact and NPP needs to embrace this reality and work hard for the 2020 elections. In Ghana's politics and democracy of today, the new norm is one-term presidency. It is very likely the same fate might happen tot he NPP gov't. The electorate are not going to be ***barred word*** and will not fall for political demagoguery on the basis of religion or any other thing. They expect and demand to see tangible results and the benefits of socio-economic development and growth in their lives. NPP must deliver or kiss 2020 goodbye.
HAHAHAHA NICE ONE.