Kufuor take adequate steps in solving Ghana?s economic dilemma
President John Agyekum Kufuor?s administration has inflicted economic hardship on Ghanaians since his NPP Party came to office. They have forgotten that during their twenty years of opposition they were the ones criticizing their opponents for destroying the country.
Now that NPP?S economic policies have worsened the living conditions of Ghanaians, they are shifting the blame on world oil prices. Recently, petroleum price increases are being used by Kufuor and his administration to mislead Ghanaians that the government were subsidizes the petroleum industry. This justifies the idea of economic growth increasing productivity and quality of life. The NPP administration doesn?t have any interest in improving the living conditions for Ghanaians. They only care about reaching their targets for their political party?s interest.
According to their own data report, the GPD rose more then 75% through taxes and other revenues collected. But, the expenditures also increased which shows that John Agyekum Kufuor?s economic perditions have consequences to the overall growth of the economy. Their tax increases every year cannot help the entrepreneurs to create jobs or assist ordinary Ghanaians. Economic of scales is the gaining way of lower taxes, improving efficiency, and also create market opportunities domestically which Kufuor administration has failed to lower taxes or improve efficiency, ruining his chance to create domestic market opportunities.
Ghanaians living abroad are the power behind Ghana?s economy. Their input to the economy last year was 2.3billion dollars. These are monies that were sent for projects and families back home. This amount surpassed our gross national product (GNP). The exports of gold, timber and cocoa from Ghana were also increased from previous years to 1.7billion dollars. The government claims that the funds were used for infrastructure development to improve socioeconomic growth for the nation. Yet the unemployment rate is over 28%. This clearly shows that John Agyekum Kufuor?s policies of accountability and improving efficiency for living conditions are not a concern to his administration. However, the hegemonic political powers are his foremost concern.
If the people of Ghana could hold counsel with John Agyekum kufuor they would say, Mr. President, the historians will never forget your legacy of economic harder words which your have inflicted on Ghanaians during your time as president.
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