PRESS RELEASE BY VOLTA NDC DR. BAWUMIAH ON THE PATH OF DECEPTION We have been following Dr. Bawumiah very closely for some time now and he seems to be carrying one particular message. He disclosed it in London at a fund raising dinner, and he repeated the same message when speaking to members of the Bimoba Students Union (BISU), according to Dr. Bawumia, “he is challenging the government to point out any development project that oil revenue and an estimated amount of 27 billion dollars borrowed had been used for.” According to him, the 2015 budget provides no hope for Ghanaians as real GDP growth is declining from 15 percent in 2011 to a possible 3.9 percent in 2015. He also alleges that 94% of amount borrowed is used on recurrent expenditure and his view was also repeated by Mr. Kyei Mensah Bonsu in a press conference they held yesterday. We believe Dr. Bawumiah knows that Ghana is not an island and what ever happens in the Global economy affects Ghana, except that he chose to tread on the path of deception which we believe he is doing. According to the economic intelligence unit (EIU) the world economy will grow by 2.9% in 2015, and barring any major geopolitical upheaval, global economic growth in 2015 will hold at a rate of 3.5%. (source: global economic outlook). This projection shows that the possible projection of the growth of the Ghanaian economy is higher than that of the global projections. Let us not forget the current fall in price of oil on the international market will definitely have an adverse effect on Ghana, since Ghana is producing oil in commercial quantities, it implies that the fall in price will lead to a fall in revenue of the country hence a decline in economic growth. Dr. Bawumiah and Mr. Kyei Mensah Bonsu’s assertion that the government is spending a lot of the loans on current expenditure is an issue of them forgetting their own actions when they governed this country. The NPP government has gone for loans both in the local and international market at an interest which needs to be retired by the NDC government; the failure to repay the loans will have a negative consequence on our country hence all loans due need to be retired on scheduled. Just before the NPP leaves office they have tied the hands of the NDC government to implement the single spine pay policy which have shot up the wage bill, but despite all this the government still engages in massive capital expenditure which is evident in the massive infrastructure development going on in the education sector, the health sector, transportation sector, agricultural sector etc. Dr. Bawumiah seems to portray the NPP as the saviors’ of Ghana but their tenure of office was not all that glorious as they try to make Ghanaians believe because at the end of their tenure in office, this is how far Ghana has been described. Ghana was considered more vulnerable than it has been in the recent past with the country’s current account deficits deteriorating to worrisome levels. Moreover, inflation is high and rising, and the government’s fiscal position has deteriorated. (source: Global financial crises discussion series 2008). The economy was so weak that they have to sell 70% of government shares in vodafone to enable them pay the salaries of workers. Kafui Agbleze Volta regional communication officer NDC frederickkafuiagbleze@yahoo
Posted on: Fri, 09 Jan 2015 15:28:17 +0000
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