Spokesperson for the Vice President of Ghana, Dr. Gideon Boako dreads Ghana may suffer worse currency depreciation and economic woes should the Members of Parliament continue to conflict themselves.
As an economist, Dr. Gideon Boako held that the persistent misbehavior of the Parliamentarians give little to no hope to investors who would like to invest in Ghana's economy.
Speaking on Peace FM's ''Kokrokoo'', Dr. Boako alluded to the pre-COVID era where he noted the country recorded the lowest depreciation of its currency and also the economy was in better shape than it is today.
According to him, the government had it all planned out how it was going to revive the economy and the road to recovery was even established in the 2022 budget.
But, to him, some consequential factors are blocking the government from restoring the economy.
He explained that, due to the Parliamentarians' conduct, particularly the Minority, where they are seen fisting one another and vehemently opposing the 2022 budget, every investor will be scared to pump money into Ghana's economy.
As a result of the uncertainties over the budget, those who have already invested in Ghana are pulling out their monies against fears of losing their investments and those yet to invest do not want to do it, hence the country's cedi may continue to depreciate against the US Dollar and other currencies.
He emphasized that the sharp cedi depreciation is all because of these factors saying ''the issues in Parliament and the seeming uncertain on government budget, no doubt about it, any economy that experiences such situation, you will suffer depreciation of your currency. That's why we have to advise our Parliamentarians that, look, it is not about NPP; it is not about NDC. At the end, if the cedi depreciates against the dollar, whether you are an NPP, NDC, Parliamentarian or citizen, it affects you in any way''.
He added; ''Every economic student who will do analysis to trace the reason for the sharp depreciation of the cedi will get other factors but this will be a major contributory factor. We shouldn't play with it...at the end of the day, we are all suffering'' and also stressed ''it is a cause for worry.''
Dr. Gideon Boako appealed to the Parliamentarians to come to a consensus in order to ease the economic burdens on the nation.
''...to hold government budget to ransom and for political reasons, play with it and not approve it, the consequences go beyond the government doesn't have the right to make certain expenditure but what is important is the effect on our currency which you shouldn't play with it at all'', he told host Kwami Sefa Kayi.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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Well said , but the fact remains that the NPP do not have the numbers to push government business through. Dr Baah, ask yourself, how come that a party (NPP ) in opposition with very minimal resources compared to the government in power(NDC) still managed to win 169 seats out of 275 ie between 2017-2020 thus having a clear majority in parliament. Infact some of the NPP MP's who won their seats were 'nothing men' before 2017. We know them and they know we know them. Now having won power for 4 years with some becoming cabinet ministers and deputy ministers they lost miserably. The same people who voted for them 4 years earlier were same people who rejected them. You know why? Arrogance, greed, selfishness and above all empty pride caused the NPP MP's to lose their seats. If the independent member for Fomena who was rejected by the NPP for going independent had decided to join the NDC MP's, they would have formed the majority in parliament with an NPP president. The current embarrassment the NPP is going through is as a result of these arrogant NPP MP's who lost their seats in 2020. Currently the slogan of the NPP is 'break the 8'. The interesting thing is that some of the ministers, deputy ministers and CEO's chanting this slogan have no children of their own who are of the voting age ie 18 years and above, so who's 18 years and above children are they looking up to to break the 8 for them? Unfortunately these are the appointees who have no respect for the common NPP supporter. A common party person wanting to see a DCE or a minister is like he wanting to see the president. They may be common but they have more children of voting age than you and it's they who will determine your fate come 7 December, 2024. Kufour's appointees were easily accessible compared to Akuffo Addo appointees especially the young ones who have never seen what they are seeing now. If it were all about money Akuffo Addo couldn't have beaten John Mahama in 2016. Can an opposition leader be richer than an incumbent government in Ghana? So Dr Baah, don't blame the NDC MP's, blame the NPP MP's who lost their seats. The NDC MP's are not in government. Am NPP to the core but truth be told.
What is more practical than a digital economy? You can hate the Vice Prez all you want… come 2024 he will whip JDM hands down.
GHANAIANS PAY YOUR TAXES AND STOP CRISING ENOUGH OF THAT. CURRENCY GLOBALLY FLUATUATES BUT IT ALWAYS YOUR BALANCE OF TRADE THAT CHANGE THE CURRENCY STRENGTH. HOW MANY ADDED VALUE DOES GHANA EXPORT. WE KEEP IMPORTING RICE WHICH IT CAN BE GROWN IN GHANA EASILY,WE IMPORT WHEAT WHICH CAN EASILY GROW IN GHANA JUST LIKE EQYPT, BRASIL, OR ANY TROPICAL NATION WITHOUT ANY PROBLEM. SO WE ARE SICK AS A NATION WE MUST SMARTUP AND STOP THE NOISE EVERYTIME WHICH IS NPOT HELPING.NDC SO IGNOOOOOOORANT, LOOOOOOOOSERS THEY DON'T EVEN UNDERSTANT THE CONSTITUTION, CANNOT EVEN INTERPRATE THE LAW. AGAIN INEVERYTHING THEY HAVE NO SOLUTION EXCEPT CRITISIMS SUCH LOOOOOOSERS LEADERS AND LOOOOOTERS.
Don't blame parliament , if you wanted the e- levy . You could have marshalled all your most to pass it .
You and your bosses do not have any shame, hooooooo shame on u. Tell your bawumia to turn economic lectures into practicals