Economy on the path of ruin – Bosomtwe MP

The Member of Parliament (MP) for Bosomtwe constituency Mr Simon Osei-Mensah has accused the government of putting the economy on the path of ruin.

He cited, what he termed, unmatched corruption and mismanagement, and said the economy was in real danger of being completely run down.

Speaking to the Ghana News Agency (GNA) in Kumasi, the MP, a professional banker, called for decisive measures to tackle official corruption, clean up the mess and restore sanity.

He said things were not looking pretty good and the handlers of the economy would have to act quickly to fix it.

He said it was curious that the national debt, which stood at GHc9.00 billion in year 2008, had bloated to GHc39 billion, just within a space of five years.

“It becomes even more curious when the government has nothing to show for this - cannot pinpoint what the money was used for.”

Mr Osei-Mensah asked that the Economic Management Team should “sit up and have a good look at the way things are being done”, saying “the reckless spending pattern - the haemorrhage, must stop.”

He also underlined the need to set up a technical committee to do a thorough assessment of the Single Spine Salary Structure (SSSS) to ensure its smooth implementation.

He said everything must be done to prevent a situation where the country might not be able to raise enough revenue to pay workers.