2003 Budget… President Kufuor Lies....

....ABOUT REMITTANCES INTO THE ECONOMY
President Kufuor in his ‘State of the Nation Address’ told the nation that as a result of the confidence Ghanaians abroad now have in his Government and its policies, transfers by Ghanaians living abroad increased more than three-fold from US $400 million under the NDC to US $1.3 million in 2002 under the NPP.

Unfortunately for President Kufuor, his own Budget, read on his behalf by the Finance Minister, Hon. Yaw Osafo Maafo has betrayed him badly.

According to THE PALAVER, on page 158 of the printed version, ‘Provisional Actual Transfers’ covers all private transfer and not those made by Ghanaians living abroad alone amounted to ?680 million in 2002. “Official transfer” also amounted to $220 billion.

It however says that even if President Kufuor were right, there is a further legitimate question to be asked. That is why his Budget Statement, for this year 2003, only projected ‘private transfers’ of $630 million, an amount which is $50 million lower than what the Budget Statement says was collected in 2002 and about $700 million lower than what he says was collected in his ‘State of the Nation Address’.

Only President Kufuor can answer this question, the paper indicated.