The National Democratic Congress (NDC), says it is a better manager of Ghana\u2019s economy compared to the New Patriotic Party (NPP).<\/p>\n
The party at a press conference dubbed, \u201csetting the records straight\u201d to counter the NPP\u2019s recent \u201cPromises Made, Promises Broken, Promises Repeated\u201d media encounter, said Ghana\u2019s economy saw an impressive performance under the John Attah-Mills \u2013 John Mahama administration against the poor performance by the NPP’s John Kufuor.<\/p>\n
Addressing the press, Minister of Transport, Fifi Kwetey, said in spite of the many financial resources that was available to the NPP, it was unable to ensure a significant growth in terms of infrastructure development.<\/p>\n
\u201cFrom 2001 to 2008, the NPP accumulated a total debt stock 56.9billion cedis, taking it from 9.7billion cedis in 2008. NPP therefore had access to 4.3 times more loan financing than NDC 1 under Jerry Rawlings. In spite of this, the NDC 1 overshadows the NPP in virtually all critical development infrastructure.\u201d<\/p>\n
\u201cNDC built 3 regional hospitals against zero by the non-performing NPP. NDC within that period, can also boast of a couple of public universities against zero by the NPP,\u201d he added.<\/p>\n
Fifi Kwetey said the NPP presided over an average real GDP growth of 5.6% in its 8 years in government, whiles the NDC managed an average of 6.3% non-oil GDP growth.<\/p>\n
On budget deficit, Mr. Kwetey said the NPP\u2019s 11% recorded in 2008, had been the highest fiscal slippage recorded since 1993, against the NDC\u2019s 5.5% recorded in 2012.<\/p>\n
On inflation, Fifi Kwetey argued that the NPP ended its 8-year governance under John Kuffour with 18% inflation rate in 2012 against the NDC\u2019s less than 18% rate this year.<\/p>\n
The NPP\u2019s \u2018pitiful lack of foresight\u2019<\/strong><\/p>\n Mr. Kwetey reiterated that \u201cwe in the NDC have a great track record of using foreign debt to invest in solid investments,\u201d whilst juxtaposing the NDC\u2019s handling of foreign loans with the NPP\u2019s \u00a0$750 million loan from the international financial market in 2007.<\/p>\n We\u2019re investing \u00a0in projects, not piling up debts<\/strong><\/p>\n Fifi Kwetey emphasized that, government as investing the loans it has contracted in projects; and not pilling up debts as the NPP’s running mate Dr. Mahamudu Bawumia, suggested as his public lecture on the state of the economy.<\/p>\n Dr. Mahamudu Bawumia, the NPP running mate, delivering a public lecture recently on the State of the Ghanaian Economy, said about 66% of Ghana\u2019s total debt since independence, has been accumulated under President Mahama.<\/p>\n Dr. Bawumia also noted that, Ghana\u2019s debt total had ballooned from GHc9.5 billion to its current figure, a claim Fifi Kwetey\u00a0disagrees with.<\/p>\n –<\/p>\n By: Jonas Nyabor\/Citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" The National Democratic Congress (NDC), says it is a better manager of Ghana\u2019s economy compared to the New Patriotic Party (NPP). The party at a press conference dubbed, \u201csetting the records straight\u201d to counter the NPP\u2019s recent \u201cPromises Made, Promises Broken, Promises Repeated\u201d media encounter, said Ghana\u2019s economy saw an impressive performance under the John […]<\/p>\n","protected":false},"author":5,"featured_media":250754,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2647,2648,58,10],"tags":[3,5162,129,56],"yoast_head":"\n