Minority cast doubts on govt's 2015 projections

The minority in Parliament has cast doubts over the country’s economic prospects for 2015.

Government hopes that the economy will grow at a rate of 3.9 percent this year.

But the minority is skeptical about the projection. Minority leader Osei Kyei Mensah Bonsu told a news conference, Thursday, that government is spending available resources instead of investing.

“For a 50 billion dollar economy, almost 5 billion dollars worth of economic activity has disappeared and that should be worrying to Ghanaians especially in a state of massive unemployment.

“This slow growth means higher unemployment, higher prices and declining revenues, in this respect the NDC administration has woefully failed Ghanaians and one is deeply worried about the depth to which the economy is being plunged,” Mensah-Bonsu said.

The minority added that “Ghana’s economic growth has been in sharp decline, Ghana’s debt to GDP ratio has sharply risen to 60.8 percent of GDP as at September 2014.

“The NDC government has borrowed an amount equivalent at the time of borrowing to 27 billion over the past six years; this is besides oil and tax revenue. No government in the history of this country has been so lucky to have access to this volume of resources for development”.