‘Enko Yie, Enko Yie, Enko Yie!’- Cries NPP!

he New Patriotic Party (NPP) has said that instead of building on the impressive gains chalked by its predecessor when it was in government, the ruling National Democratic Congress is busy taking the nation backwards!

The party has said that the deliberate decision by government in the 2010 Budget (Enko Yie Budget) to revise downwards all economic indicators was a step into the past and a stab in the back of the strenuous efforts made by the previous administration to develop the economy of Ghana at an accelerated rate.

A press statement signed by Mr. Kweku Kwarteng, the Communications Director of the NPP issued in Accra shortly after the Finance Minister Dr. Kwabena Duffuor had completed reading his rather stale budget, the party said that in June 2009, five months after the NDC assumed office, the NDC Government had glowing praise for the NPP in terms of its management of the economy, but was not singing a different tune.

The “Memorandum of Financial and Economic Policy, 2009 – 2012” issued by the NDC government early in the NDC government stated that “Real GDP growth increased steadily from 3.7 percent in 2000 to 7.3 percent in 2008. This growth was fostered by significant debt relief which provided the country with fiscal space to embark on critical infrastructure investments, particularly in the energy and road sectors, as well as targeted social spending, all under the Ghana Poverty Reduction Strategy (GPRS). The combination of higher output growth, declining inflation, and improved social spending under the GPRS framework contributed significantly to lower poverty levels. The national incidence of poverty declined from 39.5 percent in 1998/99 to 28.5 percent in 2005/06. At this rate, Ghana is poised to achieve the Millennium Development Goal (MDG) of halving extreme poverty ahead of 2015.”

The NPP said that in spite of this impressive legacy from the previous administration, the NDC government, after managing the economy for just ten months, has reported disappointing results in the 2009 Budget Statement.

They said that the impressive economic expansion of 7.3% (the highest in thirty years) achieved in 2008 under the NPP Government is being reversed!

“Under the NDC, Ghana's economy only grew by 4.7% in 2009. This means economic activities and the creation of jobs has slowed down badly, and explains the many complaints about increasing unemployment in the country. A growth rate of 4.7% was achieved as far back as 2002 (seven years ago). Instead of building on the economic growth of 2008, we are rather moving backwards!” the NPP said.

The NPP said that whilst the Minister of Finance recorded an average inflation of 19.9% over the last ten months, public sector wages has increased by only 5% to 17% in 2009 depending on the public sector workers involved.

“This means real wages of workers have been reduced in the last ten months, making public servants poorer,” the NPP said.

The party said that on top of all these, the cost of living has been rising sharply in the last ten months, fuelled by high fuel prices among others.

“Yet, the 2010 Budget Statement and Economic Policy of the NDC Government do not contain any clear strategies to create jobs and reduce the cost of living. It is getting increasing clear that this government lacks ideas,” the NPP said.

The NPP called on the Mills Administration to cut back on huge expenditures on the multitude of committees and commissions, and sit up. They said that it is government's inability to deliver on its promises and do something about the worsening cost of living that has reduced its officials to people who take advantage of every public appearance to complain about the economy they inherited.

“Is this not the same economy they themselves have given impressive testimony about? Ghanaians want better life, and the earlier this government sat up and delivered, the better it would be for this country,” the NPP concluded.