{"id":605022,"date":"2019-04-04T15:01:09","date_gmt":"2019-04-04T15:01:09","guid":{"rendered":"<br><div>\n<p class=\"floatLeft\">General News of Thursday,  4 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>Myjoyonline.com <\/p>\n2019-04-04\n\n<div class=\"article-left\">\n<p class=\"article-image\"><img src=\"https:\/\/cdn.ghana-mma.com\/2019\/04\/6175"},"modified":"2019-04-04T15:01:09","modified_gmt":"2019-04-04T15:01:09","slug":"unacceptable-expert-does-not-buy-bawumias-town-hall-remarks","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/04\/04\/unacceptable-expert-does-not-buy-bawumias-town-hall-remarks\/","title":{"rendered":"\u2018Unacceptable,&#8217; &#8211; Expert does not buy Bawumia\u2019s town hall remarks"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"floatLeft\">General News of Thursday,  4 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>Myjoyonline.com <\/p>\n<p>2019-04-04<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/61755304.295.jpg\" alt=\"Bawumia Government Question90\" title=\"Bawumia Government Question90\" width=\"295\" height=\"165\" \/><span class=\"image_caption\"><span>Vice President, Dr. Mahamadu Bawumia<\/span><\/span><\/p>\n<\/div>\n<p style=\"clear:right\">Ghana\u2019s economic \u201cfundamentals\u201d have been met, according to the Vice President\u2019s remarks at the Economic Management Team town hall meeting Wednesday, but a senior finance expert disagrees.<\/p>\n<p>On the Super Morning Show Thursday, Professor Godfred Alufar Bokpin, an economist and Professor of Finance at the University of Ghana, denounced Mahamadu Bawumia\u2019s observations, suggesting that the country is going far below its potential.<\/p>\n<p>\u201cThere is an increasing inequality in Ghana,\u201d said Bokpin, who is also an IMANI fellow.<\/p>\n<p>He explained that most capital in the country comes from foreign investors. In exchange, Ghana provides them with resources, but that return on capital is low.<\/p>\n<p>\u201cForeign investors are benefiting but we are lacking,\u201d he said. \u201cGrowth is driven by internal sectors and job creation.\u201d<\/p>\n<p>Hydrocarbon production, mining, oil and gas were economic drivers for the economy last year, but because of foreign interests, \u201cwe recorded growth that we were unable to sustain.\u201d<\/p>\n<p>But of all the issues rattling Ghana\u2019s economy \u2013 even more than the cedi, which is currently being eaten alive by the dollar \u2013 resource allocation has been the country\u2019s biggest challenge.<\/p>\n<p>This year, Ghana is hoping to generate GH\u00a245 billion through tax revenue, but we will fail to maintain those funds if the government spends it similarly to how it spent revenue last year, he insisted.<\/p>\n<p>Twenty-three billion cedis went to wages and salaries alone. Eighteen billion went to debt management. Capital spending? Eight billion.<\/p>\n<p>\u201c[Government] is imposing restrictions on growth. It is unacceptable.\u201d<\/p>\n<p>However, at Wednesday\u2019s town hall meeting, Bawumia applauded his economic team for exceeding sub-Saharan Africa\u2019s economic growth rate.<\/p>\n<p>In 2017, Ghana\u2019s economy grew by 8.1%, \u201cone of the highest in the world,\u201d he said.<\/p>\n<p>He boasted that the country\u2019s GDP rate was robust and mentioned that non-oil growth has increased from 4.6% &#8211; 5.8%, increasing the per capita income to GH\u00a29864 \u2013 30% higher than in 2016.<\/p>\n<p>\u201cOur challenge is to make the distribution fair,\u201d he said. \u201cThis is the ultimate goal.\u201d<\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>General News of Thursday, 4 April 2019 Source: Myjoyonline.com 2019-04-04 Vice President, Dr. Mahamadu Bawumia Ghana\u2019s economic \u201cfundamentals\u201d have been met, according to the Vice President\u2019s remarks at the Economic Management Team town hall meeting Wednesday, but a senior finance expert disagrees. On the Super Morning Show Thursday, Professor Godfred Alufar Bokpin, an economist and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":604852,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-605022","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018Unacceptable,&#039; - Expert does not buy Bawumia\u2019s town hall remarks - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/04\/04\/unacceptable-expert-does-not-buy-bawumias-town-hall-remarks\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"\u2018Unacceptable,&#039; - Expert does not buy Bawumia\u2019s town hall remarks - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"General News of Thursday, 4 April 2019 Source: Myjoyonline.com 2019-04-04 Vice President, Dr. Mahamadu Bawumia Ghana\u2019s economic \u201cfundamentals\u201d have been met, according to the Vice President\u2019s remarks at the Economic Management Team town hall meeting Wednesday, but a senior finance expert disagrees. On the Super Morning Show Thursday, Professor Godfred Alufar Bokpin, an economist and [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/unacceptable-expert-does-not-buy-bawumias-town-hall-remarks\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/unacceptable-expert-does-not-buy-bawumias-town-hall-remarks\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"\u2018Unacceptable,&#8217; 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