Ghana’s Economy will collapse on your heads – Oppong-Nkrumah to Minority

By:brightwebtv.com/Nana asare barimah

The government has admonished members of the opposition National Democratic Congress (NDC) against any doom prediction that will send investors away in their bid to politicize issues of the Ghanaian economy to win political power and steer affairs of the country.

“If the economy collapses, it will collapse on their heads because they live in the country”, Minister of Information, Hon. Kojo Oppong-Nkrumah has said on Kumasi-based Nhyira FM morning show monitored by MyNewsGh.com.
According to the government’s spokesperson, the posture of the NDC lawmakers indicates the economy under President Nana Addo Dankwa Akufo-Addo will collapse so to score cheap political points.
“They should stop putting fear among businessmen because of the cedi depreciation”, the New Patriotic Party (NPP) lawmaker for Ofoase-Ayiribi in the Eastern Region told host, Aduanaba Kofi Asante Ennin .
Member of Parliament (MP) for Bolgatanga Central, Isaac Adongo has observed that the Ghanaian economy is heading for doom because of the inappropriate and relatively high government expenditure.
According to Mr. Adongo, the improper allocation anddisbursement of funds on the part of the NPP government is only plunging thecountry into economic crisis and a phenomenon which leaves the nation’s bursarywith little or no funds for infrastructural projects.

In his submission, he argued that, in 2018 governmentgenerated only GH¢35bn from taxes all of which was allocated to the funding ofcompensations and interest costs, which left nothing for the government to useto undertake developmental projects.

“…We generated only GH¢35bn from taxes, all of that taxes isspent on just compensations and interest cost, so now ask me and the governmenthow are they are going to fund infrastructure, how are they going to fund eventhe statutory payments.”
In his view, the NPP government’s poor allocation of fundsignited their cover up plan of reallocating some funds from the GETFund, HealthInsurance and other statutory funds.
“That is why they came with the strategy to take all themonies away from GETFund, Health Insurance and even the one that is left theystill go in there and realign it to other expenditures.”
He added, “…The truth is that the economy is heading forcrisis, if you continue this to 2020, it means that even the monies we’ll beborrowing will be consumed by just three-four items and that is how scary ourphysical situation looks like”.
But the Finance Minister last week gave an assurance that the economy would be back on its feet in a couple of weeks once the cedi is stabilized.

Mr. Ofori-Atta hinted that the economy would be injectedwith some capital including the $750 million Standard Bank bridge facility todeal with the challenges of the Ghanaian economy.

Source:MyNewsGh.com/