General News of Thursday, 29 November 2018
Source: Emmanuel Bruce
The Member of Parliament for Bolga Central, Isaac Adongo has warned that the governemt will find its true level by 2019 with regards to the management of the economy.
According to him, the recent budget which was presented by the Finance Minster alluded to the fact that the economy performed better in 2017 than it is doing in 2018.
Speaking at the budget debate in Parliament, he said “don’t fortget that 2017, they were yet to find their feet and it was the pass through effect of our policies in 2016 that was still driving the economy. Today they have met their meter.”
“In 2017 when you claimed you inherited a mess, the economy was growing at 7.4 per cent by the first half of the year and now that you have corrected the mess it is growing at 5.4 per cent,” he stated amid loud cheers from the minority members.
“Now that you have actually met your meter, 2019 will be worse than this and your true levels will show,” he added.
Mr Adongo also pointed out that the data provided by the Ghana statistical service for the second quarter of this year was totally different from the story the Finance Minister came to Parliament to paint.
“According the GSS, by the end of the second quarter, water and storage had declined 3.5 per cent , financial sector declined by 13.5 per cent, professional services suffered by almost 5.9 per cent, trade and vehicles repair also declined by 1.8 per cent, real estate is beginning to see a negative growth which is almost 0.9 per cent and the general services sector is now a pale shadow at 0,5 per cent,” he highlighted.
“This is the kind of econmy you grow when you inherit somebodys work in 2016 and you begin to jump around in 2017 because there is pass through. Your levels is now beginning to show, he added.