Dr Bawumia bares facts on Ghana's economy

New Patriotic Party’s Vice Presidential Candidate Dr Mahamudu Bawumia has in what some party folk have called an apt summary of the party’s manifesto, made bare what he considers to be a foundation of straw put together by the John Mahama-led National Democratic Congress administration.
In a two-hour public lecture delivered at the National Theatre with party faithful including Presidential candidate Nana Addo Dankwah Akufo-Addo and former President J.A Kufuor in attendance, Dr. Bawumia spoke on a broad range of economic issues ranging from GDP, performance of the cedis, fragility of the banking sector, Ghana’s relationship with the IMF, the cost of infrastructural development vis-a-vis the quantum of loans and other revenues accrued by the state Among the several quotes attributed to the economist as he delivered his lecture were the following; “Under the New Patriotic Party (NPP) taxes and loans amounted GH¢20 billion in contrast over the last eight years amount to GH¢248 billion.”
“Ghana made in terms of Human Development index was 1.33 which has now fallen to 1.13 during the Mahama administration” “Ghana’s debt moved from GH¢9.5 billion in 2008 to over 100 billion in 2015”
“66% of Ghana’s debt from independence has been accumulated by John Mahama in the last three years.” “$39 billion borrowed by government so far”
“$42 billion would have been borrowed by December but government will claim the book value is $26 million as they will be applying the current exchange rate and not at the time the money was borrowed.” “Cedi worst-performing in the world which had good exchange rate during the NPP era”
“The entire allocation to the ministry of roads, food agriculture and all the six ministries was only GH¢2.1 billion 2016 as compared to GH¢10.5 billion cedis interest payment on debts paid by government.”
Speaking to ETV Ghana’s Kwame Gyan after the lecture, Spokesperson for the NPP Flagbearer, Mustapha Hamid agreed with assertions that the lecture aptly summarises the party’s manifesto adding that, it serves as a good background as the party continues with her campaign across the country. On what to expect from the government as a reaction, Mustapha Hamid said he expects them to seek to attack the messenger especially as they will not have adequate responses to Dr. Bawumia’s expose.