According to Dr. Bawumia, Ghana would have been ten times better off under an Akufo-Addo government, considering the numerous resources available to the Mahama administration, noting that all of them have been mismanaged.
Dr Bawumia made this observation when addressing NPP activists at Nkawkaw in the Eastern Region as part of the “Rise and Build” tour led by the party’s flagbearer, Nana Akufo-Addo. He stated categorically that taxes collected for the past seven years of the NDC regime are five times the total tax revenue the NPP received in eight years under President Kufuor.
Additionally, revenues from cocoa and gold exports within the seven-year period, coupled with $3 billion oil revenue, indicate that the NDC government has received more revenues than any other government in the 58-year history of Ghana as a sovereign state.
In spite of the huge revenues, the NPP vice presidential candidate stated that the country is collapsing under an avalanche of debts.
“When the NDC came into office, Ghana’s total debt stock was GH¢9.5 billion. It is now GH¢90.5 billion in just seven years. This government will end this year with a debt stock of over GH¢110 billion,” he revealed.
Dr Bawumia, an economic gem, bemoaned the fact that in spite of all these revenues and other resources, Ghana should have seen massive infrastructural development. “But….we can’t pay teacher and nursing trainee allowances. All statutory payments – NHIS, District Assembly Common Fund, GETFund, etc – are in arrears. What have they used the money for?” he queried.
Referring to a statement that had been made by the Managing Director of the International Monetary Fund (IMF), Christine Lagarde, to the effect that the chunk of the loans contracted by Ghana had been used as recurrent and not capital expenditure, Dr. Bauwmia stated that projects like the Sofoline, Kwame Nkrumah Circle and Kasoa Interchanges; Kpong Water Works; Upper West Regional Hospital, among others, were undertaken by the Mahama government ostensibly to justify the GH¢90.5 billion debt accrued, even though the total cost of the projects amounts to only GH¢3.5 billion.
He was, however, hopeful of a return of Ghana onto the path of progress and prosperity under an Akufo-Addo government.
“I am confident in the leadership of Nana Akufo-Addo. We will build the most business-friendly country in Africa. People are suffering; businesses are collapsing; we can change it. An Akufo-Addo government will change the fortunes of Ghana. We will put in place measures to stabilise the cedi,” Dr Bawumia assured.
Source: Daily Guide