The National Communications Officer of the opposition, National Democratic Congress, Sammy Gyamfi Esq. has chastised Ghana’s Finance Minister, Ken-Ofori Atta for touting about the country’s nominal Gross Domestic Product hitting one trillion Cedi mark.
According to him, the increase in the nominal Gross Domestic product of the country is mainly a result of the extremely high rate of inflation the country has witnessed in recent times.
Mr Gyamfi noted that Ghana’s nominal Gross Domestic Product hitting the trillion cedi is not indicative of actual growth in production.
“The lowest point in the 2024 budget speech, was when the Finance Minister sought to celebrate Ghana’s nominal GDP reaching the trillion cedi mark. In a high inflation environment, as we’ve seen in the last couple of years, it is not surprising that nominal values will record big jumps. Hence, nominal GDP may indicate an increase whereas it is all fluke. What is most important, is real GDP which takes into account inflation. Any economist worth his salt should know this. This is trite”.
Sammy Gyamfi Esq. NDC National Communications Officer
Again, the National Democratic Congress Communications Officer indicated that the projected nominal Gross Domestic Product of GHS1 trillion therefore has no significant positive bearing on the ‘ever-worsening’ livelihoods of Ghanaians.
Mr Gyamfi stressed that the ordinary Ghanaians would not profit from what the Finance Minister touted as a milestone to the country’s economy.
“If nominal GDP is anything to go by, then Ken Ofori Atta must be reminded, that what he is touting as a great achievement is no news at all. Ghana’s nominal GDP stood at over 19 trillion cedis in 1999 before redenomination. By 2006, Ghana’s nominal GDP had exceeded 100 trillion cedis”.
Sammy Gyamfi Esq. NDC National Communications Officer
Sammy Gyamfi Touts NDC’s Superior Record Of GDP Growth
Moreover, Mr Sammy Gyamfi, the opposition National Democratic Congress Communications Officer touted his party’s superior record and achievements for increasing Ghana’s nominal Gross Domestic Product from GHS 17. 6 billion in 2008 to GHS 167 billion in 2016 when it was in power.
He thus urged President Akufo-Addo and the New Patriotic Party administration to focus on delivering better economic conditions to alleviate the hardship of the good people of Ghana.
“The failed Akufo-Addo/Bawumia government must stop majoring in minors and focus on important economic factors that significantly impact the livelihoods of Ghanaians. Suffering Ghanaians deserve better!”
Sammy Gyamfi Esq. NDC National Communications Officer
Meanwhile, the National Democratic Congress Member of Parliament for Sagnarigu Constituency in the Northern Region, Honorable Alhassan Bashir Fuseini has chastised the Vice President, Dr Mahamudu Bawumia for failing to deliver better economic conditions as promised when he was in opposition.
According to him, the Vice President, Dr Mahamudu Bawumia in opposition accused the National Democratic Congress administration of borrowing, however, the New Patriotic Party administration which the Vice President is the Head of its Economic Management Team has borrowed excessively leading to the country’s unprecedented debt crisis.
He noted that the country is currently facing high prices of goods and services across its various market centres, mainly due to the high food inflation resulting from the New Patriotic Party administration’s poor management of the economy.
“I remembered what DR BAWUMIA said on 3/5/2012 on his Twitter handle, the prices of basic commodities such as gari, pure water, cement and princes of fuel products had all seen triple digit increases. Today how much is a bowl of gar? How much is a bowl of sugar, what about fuel products? What about a bag of cement? Those questions must be answered by the super incompetent vice president of the republic of Ghana. Today the government of the new patriotic party had engaged double what they were criticizing the national democratic Congress during their days in opposition”.
Honorable A. B Fuseini, MP Sagnarigu Constituency
Additionally, the Sagnarigu lawmaker bemoaned the complete silence of the media, civil society organizations and religious leaders amidst the New Patriotic Party administration worst economic records.
He accused President Akufo-Addo of institutionalizing a culture of silence in the country.
He thus urged Ghanaians to rally behind the National Democratic Congress and vote for its flagbearer, Joh Dramani Mahama in the 2024 December 7 general election to restore the country to the path of progress and development.
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