The Minority in Parliament has accused the President of painting a ‘very rosy picture’ of the current state of the nation despite the restlessness being felt among the citizenry.
The Minority in Parliament at a press conference to paint the ‘true state of the nation address,’ observed that despite the opportunity given to the President to open up to Ghanaians on the real factors stalling the socio-economic development of the nation, he failed to do so.
he Minority Leader, Osei Kyei Mensah Bonsu who addressed the media said: ‘The nation has become restless and yet the President paints a very rosy picture… It is sad to relate that when the President had the opportunity to open up on the real state of the economy, he sprinted away from the facts because that is indeed the Achilles heel of the government,’ he remarked.
Osei Mensah Bonsu recalled that during the President’s 2014 state of the nation address, President Mahama said: ‘our economic fundamentals remain strong and our mid-term prospects are good.’
Mensah Bonsu also mentioned that the President ’emphasized his bold declaration with statistics on economic growth. He cited GDP growth rate as if GDP is the only measure of fundamentals.’
According to him, President Mahama has not been presenting the true state of the nation to Ghanaians as he continues to describe the ‘glaring humongous economic crisis’ as challenges.
The word ‘challenge’ has been ‘so abused in its usage that when in the face of glaring humongous economic crisis, President Mahama and his appointees insist that they are mere challenges.’
How the economy has ‘fallen
According to the Minority, unchecked borrowing and debt pile is ‘scorching out’ critical space that was available to government for real growth. The economic growth in countries in the West African monetary zone averaged 6.7% in 2013 [The GDP growth rate].
Aside Ghana, the countries in the league are the Gambia, Guinea Conakry, Sierra Leone, Liberia and Nigeria. Apart from Nigeria, the other countries – not counting Ghana are non-oil producing countries.
Ghana’s non-oil sector growth fell below the countries in the sub-region including some countries emerging from war situations and Sierra Leone and Liberia.
In 2014, the average GDP growth in the West African Monetary zone was provisionally stated as 6.2%.
Ghana’s GDP growth rate – oil, included was 4.2% and the non-oil sector grew 3.5% likely to be reviewed downwards.
So Ghana was the country that was pulling the average GDP growth rate in the West African Monetary zone downwards.
‘Mr. President, that is the plain truth but you did not tell Ghanaians. At the close of 2013, Ghana was the only the country out of the six West African Monetary Zone that had failed to attain even one of the 10 convergence criteria,’ Osei Kyei Mensah Bonsu said.
For the second year in succession in 2014, Ghana scored zero in the 10 convergence criteria involving the four primary and six secondary criteria. This abysma.
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