The National Democratic Congress is unfazed by criticisms by the opposition New Patriotic Party that it has failed to meet its economic targets set out in the 2010 budget statement.
The NPP graded the economic performance of government with an F, accusing the NDC of accumulating more debt in two years than the NPP did in eight years.
According to the NPP, the country’s public debt portfolio has risen from $8 billion in December 2008 to over $11 billion as of September 2010, representing over 68% of GDP, saying the country will soon be heading back to HIPC.
It also accuses the NDC of not meeting its economic targets. A former Minister of State at the Finance Ministry Anthony Akoto Osei said there are too many taxes which will cripple industry and criticized the NDC for not completing the affordable housing project started by the NPP but rather chose to begin a new project under STX.
But Dr. Tony Aidoo said the statements by the NPP are a misunderstanding and a “shallow intellectual analysis of the economic situation.”
He said the NPP should tell the country how much loan has been approved by Parliament which made them draw the conclusion that the country’s debt portfolio had increased in two years, saying, loan pledges does not amount to physical cash.
He said their failure to meet key economic targets is not unusual, adding the NPP never met any of its targets in its eight-year term of office.
He made reference to a 100,000 affordable housing project promised by the NPP in their manifesto but ended up with not even a single housing project completed. He said the party used the two years to clear the mess left behind by the NPP and is now going to embark on a massive developmental agenda.
Mr. Aidoo wondered how on one hand the NPP will criticize them for initiating the STX project rather than completing the affordable housing project and on the other hand accuse them of taking credit for completing projects started by the NPP.