Ghana’s gross domestic product (GDP), notwithstanding the discovery of oil, has only increased from $28.5 billion in 2008 to a projected $40 billion in 2016, a 40 percent increase in eight years, according to the New Patriotic Party (NPP).
In its analysis of the country’s performance under President John Dramani Mahama, the NPP stated: “In fact, between 2012 and 2016, i.e. during John Mahama’s tenure as president, the economy, in dollar terms, shrunk by 5 percent.”
Per capita
The NPP said under the NDC, GDP per capita has recorded a growth of 17 percent from $1,266 in 2008 to a projected $1,481 in 2016 with oil revenues.
“Under John Mahama’s tenure as president (2012-2016), GDP per capita has declined by 12 percent. Under NPP on the other hand, GDP per capita recorded a growth of 187 percent in eight years (from $440 to $1,266) without oil revenues. While the NPP increased per capita incomes by $826 during its term, the NDC, with 12 times more resources, has increased per capita incomes by only $215.
Mismanagement
“This is essentially the difference between competent economic management and incompetent economic management. It also tells us that fundamentally, the country’s problem is not about resources. Our problem is the mismanagement, incompetent and corrupt use of our resources.”
Minimum wage
The NPP said in dollar terms, under the NDC, the minimum wage declined from $2.12 to $2.02 by 2016 (i.e. 4.6 percent). Between 2012 and 2016, the minimum wage in dollar terms declined by 23.6 percent.
Food imports
It revealed that Ghana’s food import bill has increased dramatically from US$600 million in 2008 to $2.1 billion in 2015. Rice imports, for example, has risen by 52 percent from 395,400 metric tonnes in 2008 to over 600,000 metric tonnes in 2015.
‘Dumsor’
The NPP also said the country’s economy has had to endure five years of power outages (dumsor), with deeply debilitating consequences for the economy, indicating that government was cash-strapped and unable to meet its obligations to suppliers of gas from Nigeria.
It also said electricity tariffs in Ghana were now amongst the highest in the world due to high taxes and corrupt procurement of power generation.
Agric extension challenges
Furthermore, it mentioned that agricultural extension service was on its knees with inadequate personnel and resources, adding that there had been a freeze on the hiring of extension officers under the Mahama-led NDC government.
Source: Daily Guide
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@Texas and Ghanaman hold your horses Npp and Bawumia have not taken over yet what is this fix it fing? Sit back and watch good governance in motion from 7 th January.
Fix it and stop making Analysis. No Excuses Mr Economist
Are these NDC mfui's using their heads? How can anyone know his destination without knowing where he is coming from? How can a doctor prescribe appropriate medication without proper diagnosis? Are cockroaches in your heads or you are lizards from Afghanistan?
These NDC camels and reptiles from the deserts of mongolia are at it again !!!!!!!; just insulting ; propaganda and refusing to understand that this analysis is just a base line to remind Ghanaians of where we are before the NPP takes over governance because The NPP government are not even in government yet !!!!!!; WAIT AND SEE THE EFFECTIVE economic management strategies that will be put in place to control the key economic management variables ; wait and see the control of the wanton waste of economic fat that will be cut down to leave the healthy meat ; the so called irrelevant projects will pruned be down ; over invoicing will be controlled ;all external contracts will be scrutinised because these ***barred word*** and semi educated NDC RAts do not understand these external contracts ; they just sign them -PATHETIC !!!!!!; sole sourcing 'Kululu' business at the procurement centre will be controlled ; all projects will be placed on tender for everybody to present their bids ; there will be no automatic award of contracts to Lordina Mahama asnd the Jon Mahama family of thiffs as in the case of CoCoa Board headed bt this Kriminal KROOK OPUNI and Toll Booth collections which goes into the pockets of Jon Mahama family ; wait till you see Dr Bawumia in action and the finance minister do due dilligence to re-examing some the over priced contracts ie Karpower; Embraer plane purchases by Jon Mahama which up today no details have been received on the contract yet ; most external contract payment will be stooped by the Fianace minister and scrutinised before payments are made ; besides MR LAW -President Nana Addo will request that any government official or any NDC political appointee who have stolen any money should return the cash in a specified time otherwise when the wheels of the law start turning they will not be spared by the law ; TRUST ME NANA ADDO WILL NOT TAKE NDC PRISONNERS WITH HIM !!!!!!ON HIS JOURNEY !!!!!!!!BECAUSE KLEPTOMANIACS WOULD NOT BE ALLOWED ON BOARD ; IF YOU ARE A STILLER FORGET IT !!!!!!!
This report does not most lucidly delineate the physical structure of the economy as it is today ...now: the existential features depict worse harm than the report purportedly indicate.
What at all does Bawumia and NPP think they are doing?We don't need these lectures anymore. get to work and stop the propaganda.we are tired of your lectures.
***barred word*** ***barred word*** ***barred word*** and fix it.
Because of these we voted the NDC out of power. Stop the analysis and fix them. No more campaign trail.
we hope u are not thinking of sending us to HIPIC