General News of Friday, 10 February 2017
The acting General Secretary of the New Patriotic Party (NPP), John Boadu has accused the Mahama administration of bequeathing unto the Nana Addo administration a very poor economy.
John Boadu speaking on Adom TV’s Badwam on Thursday said the erstwhile administration left behind an economy which virtually grinds to a halt after the payment of salaries and interest and principals on loans at the end of the month.
“The management of the economy has been very bad because as at now, if you deduct salaries, interest payments and principal from the Internally Generated Income, you only have a balance of 0.03% and this means about 99.7% of IGF goes into Salaries, loan payments and interest payments as well..,” he said.
The NPP upon the assumption of office said it would be examining the figures to know the real state of the economy which mismanagement the party said was one of the main basis for Ghanaians voting against the Mahama administration in 2016.
And John Boadu said the figures that have been emerging upon taking full control of the management of the country proves that it was indeed poorly managed by the Mahama government.
The past government’s failure to regulate the channels for mobilising monies into the state coffers, he said accounts for the low-income being generated into the state coffers.
“There are some people who are conniving with customs officials and others and syphoning monies that are meant for the state…one agent at the port just have a shortfall of close to 37 million because people are just taking advantage of the leakages in the system…,” he said.
To him, this explains why the John Mahama administration was always raising Eurobonds.
“The manufacturing sector is virtually non-existent, the debt to GDP ratio has risen from 60% to 73% and this is a sharp rise from the under 30% which the NPP left behind in 2008…the system has been corrupted…,” he opined.
One of the solutions to the problems, he said was to regulate the tax regime in the country so as to collect enough taxes and set the priorities of the country right.