The Chairman of the National Democratic Congress (NDC), Asiedu Nketia has criticized the Akufo-Addo led administration for squandering Ghana’s resources without any significant socio-economic development to show for it.
According to the NDC Chairman, the ruling NPP government has failed to deliver on its promises despite being the most resourced government in the country’s history.
Speaking at the NDC’s “True State of the Nation’s Address” at the University of Professional Studies, Accra, he claimed that the government has mainly used the country’s funds for consumption purposes, contrary to the President’s claims that the money has been utilized for road and construction projects.
“Despite being the luckiest and most resourced government in Ghana’s history, the Akufo-Addo- Bawumia NPP government has the least to show in terms of socio-economic development. This is because the NPP has used all our money mainly for consumption which is contrary to the President claims that large amounts of money has only been used in road and constructions,” he said.
Asiedu Nketia expressed his disappointment with the country’s rising debt stock which he attributed to the government’s failure to manage the country’s resources effectively.
The NDC Chairman went on to accuse the President and his economic management team of conniving with the Minister of Finance, Ken Ofori Atta, to benefit directly from the country’s borrowings.
“Today the public debt stock which stood at 120 billion cedis in 2016 has increased to a whopping 600 billion cedis while the debt to GDP ratio that was 56% in 2016 now stands at a 103%. It must be underscored that the President and his economic management or mismanagement team actively conniving with the Minister of Finance Ken Ofori Atta for the latter to benefit directly from this borrowings through numerous transactions fees, schemes and scans from the bonds that Ghana issues.”
