Accra, Aug. 24, GNA- Mr John Mahama, Minister for Communications, said on Wednesday that the present difficult economic situation of the country is not a hopeless one, when compared to other hard times the country has been through since independence.
He said the economy has been growing steadily by four per cent since the 1990s and this is not a dismal performance in the face of a high annual population growth rate of more than two per cent.
Mr Mahama was speaking at a lecture the theme: "The Year 2000 Elections, the Role of the Media/ PVOs", in Accra.
The Minister said the present economic situation is a carryover from last year, when there was a sharp drop in the world market price of cocoa and a steep increase in oil prices, into the current financial year.
He said there was a loss of 300 million dollars in cocoa revenue, while more that 500 million dollars was spent on oil import.
Mr Mahama said more than one billion dollars is spent on imports over exports, and this often brings balance of trade and balance of payment problems.
He said government can not, however, put restrictions on imports because Ghana has signed the World Trade Organisation agreement which allows other countries free access to market their products in a signatory country.
"If we put restrictions on their products which are imported here, they will take a retaliatory action which will not be in our favour." Mr Mahama said Ghanaians should change from the cultural orientation of just being traders to producers.
Entrepreneurs should also widen their arms to engage outside and wider ownership for a larger access to capital since banks are often reluctant to give loans to one-man type of businesses.
Mr Mahama expressed regret that about 70 per cent of Ghanaians are not paying their income taxes, making development very difficult to finance.
The minister admitted that this year's election may be difficult for the party because the "standard flag bearer," President Jerry Rawlings will no longer stand, but said the vice-president, Professor Atta Mills, who is the party's candidate is a "nice, capable man."
Mr Mahama called on the cadres to avoid the propaganda of the opposition parties, and get to the people and explain convincingly government's policies and programmes to them.
He said the allegation of the opposition parties that the last 20 years of the government have been wasted years is unfounded judging by the numerous development projects by way of the provision of electricity, good roads and potable water to many communities.
Mr Mahama recalled that when the government took power, its main preoccupation was to restore the social and economic infrastructure, and this boosted foreign investor confidence in the country.
He noted that people who often criticise the government for not having achieved much often fail to compare the achievement of the government in terms of development projects to other countries in the sub-region, but rather giant economies like the United Kingdom and the United States.
"They fail to realise that these economies took years to reach those heights, but Ghana is a younger economy, and so the achievements are good." He called on the electorate to vote back the Progressive Alliance into power to continue its development projects for the people, because Ghanaians are tired of experimentation.
The NDC, he said, has a track record for development projects, and voting it back into power will consolidate the gains it has achieved.
