Budget Of Hopelessness

Seth Terkper
One word - hopelessness – represents the budget as presented by Finance and Economic Planning Minister, Seth Terper, on the floor of Parliament last week.

For those who expected some heart-warming details from the presentation, especially the improvement of the integrity of electricity generation and supply, they ended up living in a fool's paradise.

There was no ambiguity about the fact that the economy, which depends on reliable power supply to grow, will be deficient of this factor as a result of the limping budget. Revenue will be hit by a profound shortfall occasioning a massively depleted public kitty. Describing the emanating failed projections as worrying is an understatement.

The chickens have finally come home to roost as the reality of the poor management of the economy dawns on every Ghanaian—propagandists and ordinary man in the street alike.

It is unfortunate that this reality is dawning on us after a long spell of propaganda with figures. Dr Mahamudu Bawumia cautioned those behind the manipulation of the economic figures because sooner than later the reality would expose them. The time has come for these persons to hide their heads between their legs in humiliation.

The story over the past few years has been repetitive. It is lamentable that when these rehashed details are presented to disappointed and impoverished Ghanaians, those who do so do not see through their failed policies.

The symptoms of a bankruptcy of economic ideas capable of reversing the fortunes of the country—which for now is on a downward and consistent descent—are too visible.

It is the duty of government to conceive measures capable of spawning positive economic returns. The inability to do this is unacceptable and a mark of failure on the part of those at the realm.

One of the promises of every political party—when they go seeking the mandate of the people—is the efficient management of resources as to ensure good returns that would impact positively on the lives of the individuals. Without doubt, that has not been the case since the inception of the incumbent political administration.

We have heard it all before—the promises of good things to come for every Ghanaian. Even school children now know about the poor state of the health of the nation. When they close from school and are heading for home with no assurance that there is going to be light for them to do their homework, it is an appropriate indication that all is not well. That is a fact and not politicking.

The citizens of this country are beginning to get angry. They are slow to anger as Kwame Nkrumah once remarked, but when they eventually do there is no stopping them.

They did it after the Second World War, in 1948, and should not be pushed to repeat the action out of frustration and hopelessness.

The last thing we would wish for this country is a frustration-induced social unrest.