GCPP to raise GDP to 814 billion US dollars next year if elected

Kumasi, Sept. 15, GNA - The Great Consolidated Popular Party (GCPP) as part of its manifesto, proposes to stimulate and raise the Gross Domestic Product (GDP), income earnings and budget from the current 8.6 billion dollars to 814 billion dollars in 2005 if elected to power.

Mr Dan Lartey, presidential candidate of the GCPP who announced this, said the current 8.6 billion dollars GDP and budget being pursued by the New Patriotic Party (NPP) administration was too meagre and accounts for the economic woes and social predicament of Ghanaians today. Mr Lartey was speaking on the topic "My Vision For Ghana Beyond 2004" at a public lecture organised by the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi on Tuesday.

The lecture was the first in a series lined up to officially bring in the various presidential candidates to present and enlighten the academic staff and students of the university on their vision and programmes. Senior and junior members of staff, deans of faculties, directors of institutes and students of the university attended.

Mr Lartey said, in addition to enhance the GDP, the GCPP would, when voted to power in 2005, also generate 111 billion dollars from what he described as "invisible trade and tourism". The GCPP presidential candidate said even though the government was aware of the low GDP and the deteriorating economy, it has failed to make any move in addressing them "just because it is working with the policy of Heavily Indebted Poor Countries (HIPC) initiative stimulated by the IMF/World Bank and designed to dissipate resources of our developing countries".

Mr Lartey stressed, "Kufuor's administration has also been the victim of deceit by the rich countries (G7), which lured the administration to go HIPC with promises of development aid and cancellation of debts at completion point, but nothing concrete has yet been achieved". He said now that the country had reached the completion point after going HIPC, the nation's plight "has multiplied astronomically, food bills gone up, while electricity, school fees and cost of health care have all witnessed increases".

Mr Lartey gave the assurance that with the foreknowledge of the shortfalls of current and previous governments, the GCPP shall shift from the policy of HIPC to the policy of domestication that is, domestically generating resources for development of the country. He said by the domestication policy, money for running the government of GCPP would be secured from national financial consortium, domestic credit systems and internal revenue sources. On constitutional reforms, Mr Lartey said the GCPP government shall seek constitutional reforms to restore chiefs to the mainstream of governance as members of the second chamber of the legislature, who will provide counsel to the President, thereby replacing the Council of State.