Deputy Finance Minister, John Kumah has hit back at the opposition National Democratic Congress (NDC) for casting a gloomy picture of the economy.
A member of Parliament’s Select Committee on Finance, John Abu Jinapor claims the economy is headed in a shutdown direction if nothing is done to reverse it.
Speaking at a town hall meeting held in Kumasi, the Ashanti Regional capital, the Member of Parliament for Yapei Kusawgu constituency said: “The size of your GDP does not service your debt, it is your revenue. If you look at a country like Japan, their debt to GDP is like 100 percent but because their interest rate is just about 1 percent or 0.5 percent, they are able to pay and also they are able to generate revenue in order to pay”.
“This 80 percent GDP we are seeing is a tip of the iceberg, go and look at our total revenue or more importantly our tax revenue, then you get to know that this country is indeed on the path to a total shutdown and a total collapse...It’s very serious and anybody who is sincere and looks at our figures will tell you that this economy is on life support and sooner than later if nothing is done to correct all these measures the Ghana economy will face imminent collapse.”
Reacting to this in an interview on Peace FM's morning show 'Kokrokoo', John Kumah asked the NDC to stick to facts and not propaganda.
"Where did you get your figures? It's not true that debt to GDP (ratio) is 80 percent. We should be fair to the figures. It's not true the economy is going to crash. As for these prophets of doom; they're always fond of making comments like this...What shows the economy is crashing?
Source: Peacefmonline.com
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WHEN DID NDC BECOME MANAGERS OF THE ECONOMY IF THE GAVE GHANA AND GHANAIANS TO IMF TO MANAGE IT. SIGNED TAKE OR PAY POWER SECTOR AGREEMENTS, DOUBLE SALARY TAKERS, BUS BRANDING LOOTERS, WAYOMY LOOTERS, SOLD OLD 120 RAIL CARS FOR SCRAP WHICH COULD BEEN REPAIRE BY SWAME MAGAZANE FOR $50,000 DOLLARS. BRANDNEW OF THESE RAIL CARS COST 500,000 DOLLARS WHICH NPP CURRENTLY HAS FIXED 10 RAIL CARS BY SWAME MAGAZANE FOR 50,000 DOLLARS SUCH A DISPICABLE ART OF LOOT AND WASTE BY NDC ***barred word*** LOOSERS ECONOMIC MISMANAGEMENT.
NDC double salary th!.eves... you guys collapsed the economy since 2014. NPP is trying to put things right and you guys are making noise. Return your double salary loots to revive the economy then. NDC c0rrupt !d!ots
I bet if you set an intellectual trap for the NDC, most of them, including their big cohorts or the so-called experts, will fall prey to their inability to argue constructively. I just can't fathom how one could cripple an economy whose indicators are remarkably more favourable than the one you managed. Even if you want to criticize it for being politically opposed to the current administration, you have to be measured and careful not to put your credibility at play. Let alone when you are a former president. Unfortunately, former President Mahama will make such a vile pun that he will not hesitate to pick pockets, so to speak.