Former Deputy Finance Minister under the previous National Democratic Congress (NDC) government, Fifi Kwetey has rubbished claims made by the Majority leader Osei Kyei Mensah Bonsu that the NPP when in power in 2001 performed better than the NDC as far as real GDP growth is concerned.
In his statement, he set the record straight by evaluating GDP figures of non oil performance by the NPP government during their time in 2001 to 2008 and theirs from 2009 to 2016 stressing that the NDC performed well by having a GDP growth rate of 5.9 percent which cannot be disputed as NPP had 5.8 percent.
“In 2009 when there was no oil the real GDP growth stood up to 4.8 percent, in 2010 real GDP 7.6 percent non oil, 2011 non oil stood up to 8.2 percent growth, non oil 2012 8.6 percent growth, 2013 non oil 6.6 percent growth, 2014 non oil 3.9 percent growth, 2015 3.1 percent and 2016 even the provisional 4.6 percent. You add it together the average cuts is 5.88 percent that is 5.9 higher than NPP’s 5.8 percent. That is the record and that should not be lied about” he stated in his submission.
The Majority leader, Osei Kyei Mensah Bonsu responding to his assertions said the minorities are comparing apples to oranges because the figures mentioned by Fifi Kwetey were in a rebased economy which started in 2008.
Parliament on Wednesday, March 15 approved the budget statement and economic policy for the 2017 financial year after six days of fierce debate between the Majority and Minority sides.
The Minority in Parliament walked out of the chamber prior to the approval of the budget.
The budget which was the first one for the New Patriotic Party (NPP) government since assuming power on January 7, 3017, was presented to Parliament by the Minister of Finance, Mr Ken Ofori-Atta on March 2, 2017.
