WHAT IS THE FOUNDATION PRESIDENT MAHAMA IS LAYING FOR IN 2017?


​PRESS STATEMENT 

MONDAY 22nd  AUGUST 2016

The Npp has been baffled by the claims of President Mahama that he is laying the foundation for  economic take off and high  growth from 2017.The President is clearly being deceptive. The Ndc inherited economic growth rate of 8.4% at end 2008. President Mills pushed the growth rate to 14.4% in 2011. President Mahama took over in 2012.  In that year  the growth rate declined to 5%.in 2015 the growth rate has further declined to  4%. So what level of growth is President Mahama laying the foundation for,  is it to take us to the growth we had already achieved in 2008 or the growth we achieved in 2011?* How can one take over a bus  travelling at 80 kilometres an hour, reduce the speed to 30 kilometres and boast to passengers that the reduced speed will rather  prepare for a higher speed? 
We note that it is not only the  growth of the economy that has retrogressed under President Mahama. Inflation was at single digit levels when President Mahama took over. Today it is over 16%.The cedi  had depreciated 4% in 2011, and  ghc1.80p bought  one  dollar. President Mahama’s policies saw the cedi becoming the worst depreciated currency in the world (30%) in 2014. Today  Ghanaians  need  ghc4  to  buy one dollar. The  fiscal deficit was 4% of GDP at end 2011. President Mahama in his first year 2012 took the deficit to a record 12%. Today, even under IMF supervision and “policy credibility”, the deficit is in excess of 7%. Today, growth  rates in agriculture and  lndustry are much worse than when President Mahama took over in 2012. 
How do you take over an economy,  make it worse,  and claim you have made it worse in order to make it better? How do you take over a bus travelling at 80 kilometres an hour,  reduce the  speed to 30 kilometres an hour , and boast that the  reduced speed  is a preparation for a higher speed? 
President Mahama  claims his government’s roads  construction, for example , will make food cheaper and increase cocoa output. But we see food prices increasingly not affordable. As for cocoa,  President Mahama inherited  production at  one million tons in 2010/2011 season. Today cocoa production is  800,000 tons  under his watch. We could afford eurobond rates when President Mahama took over in 2012. Today under his presidency,  we  simply cannot afford  the rates offered.
Even on this 2017 economic take off claim,  President Mahama has been making the same claim year in year out since 2012, but the economic plight of Ghanaians keep worsening. 

In his new year message 2013, he told Ghanaians of “better times ahead”

In 2014 he told us the “economy will turn around in 2014” In 2015, he told us of “better days ahead” Now in 2016, he has told us of a “stable economy” Mid 2016, he is telling Ghanaians of a “take off in 2017”.
President Mahama’s government has agreed with the IMF on a programme of labour  redundancies from 2017.  The message  this sends  to Ghanaian workers is  vote for President Mahama this year and get sacked next year

It is sad that  President Mahama   shrinks the Ghanaian economy  from 14% growth to 4% and still claims he is changing lives and transforming Ghana. The propaganda must stop.
Nana Akomea 

Director of Communications

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