Deputy Finance Minister John Kumah says opposition National Democratic Congress (NDC) has no resolution to challenges dealing with the Ghanaian financial system. According to him, regardless of the constant lamentation by opposition occasion, they provide no recent concepts for the decision of the issues. John Mahama has come on a complaining
spree and he’s proven that he doesn’t have any grasp plan so far as financial progress is worried. We know that he [John Mahama] can be not coming with any new concepts. We have stayed on track and have additionally proven competence within the administration of this nation. The NDC isn’t giving us any solutions. All they’re doing is
crying. They ought to inform us what new concepts they’ve. We know the banking disaster he [ Mr John Mahama] left behind and graduates couldn’t be employed. We have the solutions and we’re working at it. John Mahama has proven that he doesn’t have any new concepts, Mr Kumah stated. The feedback come on the again of the financial
discussion board organized by the NDC on the Monday. The discussion board addressed by the previous President John Mahama and the previous Finance Minister Seth Terkper criticised the dealing with of the financial system underneath President Akufo Addo. Mr Mahama stated the NPP authorities should settle for that the mismanagement of the financial system, and the will to
spend past the technique of the federal government with the intention to win elections have plunged the nation into the present disaster. Yes, COVID-19 affected the financial system, and nobody can dispute that. It is nevertheless not the principle motive why we’re within the present gap we discover ourselves. COVID19 solely grew to become a pretext for reckless election-related
spending, which additionally produced the largest-ever finances deficit within the latest financial historical past of Ghana final yr. Mr Mahama harassed; Our debt has ballooned to unsustainable levels- topping 80% of GDP- exposing us to very excessive danger of debt default. Almost all of our tax income is used to service our debt and the impact has
been the introduction of a number of new taxes. This has led to rampant increments within the costs of products and providers. This is primarily chargeable for the hardships Ghanaians are going by means of now. A comparability with our neighbours and friends in Sub-Saharan Africa, all of whom have been additionally affected by the COVID-19, reveals they
have been capable of defend their residents from COVID-19 in methods which can be much like ours too. They have nevertheless averted growing their money owed and deficits due to extra prudent administration of their economies. This authorities should settle for it’s their mismanagement of the financial system, their thirst for consumption expenditure
and the will to spend past our means with the intention to win elections which have additionally plunged us into the present disaster, not essentially the COVID-19. This has been the luckiest authorities underneath the fourth republic.
