The Majority Leader in Parliament and Minister of Parliamentary Affairs, Hon. Osei Kyei Mensah Bonsu has insisted that former President John Dramani Mahama lied to Ghanaians about the state of the nation when he was in office.
Speaking in an interview with Kwame Tutu on Rainbow Radio 87.5Fm, he said the former leader failed to detail the challenges Ghanaians were confronted with.
He said the country experienced an unstable macro-economy, an unstable provision of reliable, affordable power to enterprises and homes, poor monetary and fiscal measures, and other serious challenges.
He explained, the President, Nana Akufo-Addo gave the true reflection of the state of our nation which the former administration failed to do.
He reiterated that at the beginning of 2009, Ghana’s total debt stock was GH¢9.5 billion. By the end of 2016, the debt had ballooned to GH¢122 billion… Ghana’s debt stock now stands at 74% of GDP, after all the previous denials to the contrary.’
Our economic performance under former President Mahama he emphasized was terrible.
Hon. Kyei Osei Mensah Bonsu expressed confidence that the NPP will restore confidence in Ghana’s economy. He said Ghana’s economy despite the challenges will be strong again.
According to him, Nana Addo did not congratulate the former president for his performance but for a peaceful transition. President Nana Akufo-Addo yesterday explained that all targets set by the International Monetary Fund (IMF) for Ghana during the previous NDC administration were missed.
“The IMF program negotiated was ostensibly to restore fiscal discipline, debt sustainability and increase economic growth. In fact, virtually all the targets under the IMF program, as at December 2016, have been missed.
“Fiscal indiscipline, once again, reared its head in the 2016 election year. Total projected expenditure for 2016 was GH¢43.9 billion (26% of GDP) but actual expenditure amounted to GH¢50.3 billion (30.2% of GDP).
“It appears, from what we are finding out, that some GH¢7 billion of arrears and outstanding payments circumvented public financial management system. The total revenue target for our country was GH¢37.9 billion (22.7% of GDP) but the actual revenue came in at GH¢33.2 billion (19.9% of GDP).
“It should be recalled that, at the time Ghana entered into the IMF program to restore fiscal discipline, the fiscal deficit was 10.2% of GDP. It is very clear, therefore, that the Mahama government did not achieve the objectives set out in the programme.”
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