Press Release: Supplementary budget - NDUOM

Press Release

Fellow Ghanaians,

The Minister for Finance & Economic Planning under the Administration led by President John Evans Atta Mills today presented a supplementary budget for the fiscal year 2012. The political party that I am leading to the 2012 elections, Progressive People’s Party (PPP) is a human-centred political party that is concerned with the improvement of the human conditions of Ghanaians. Therefore, my comment on this supplementary budget has to do no necessarily with the statistics presented by the minister, but the impact of government’s fiscal policy on the quality of life of our people. I will be brief.

When the Mills Administration boasts that, “under the dynamic leadership of His Excellency, President John Evans Atta Mills Ghana attained the highest GDP growth in the world in 2011”, we must ask if Ghana also attained a commensurate high standard of living in 2011.

When the Finance & Economic Planning Minister of President Mills declares that “We have improved the welfare of Ghanaians through increased real incomes, reduction in tax burden, and implementation of numerous social intervention programmes among others”, we must ask if this includes improvement in the quality of education, health care, power supply.

When the Minister says in Parliament, “Madam Speaker, the past three years has witnessed significant improvement in the life of Ghanaians as a result of the macroeconomic stability, robust growth and improved public safety,” we are left to ask how about our people who live in “Forgotten Ghana” such as Wulensi, Gizaa, Aflao, Sankore, Moree etc.?

When Minister Duffuor says that the “Total amount that is, therefore, required to finance the revised budget deficit is GH¢1,300.16 million, of which foreign financing is estimated at GH¢205.50 million and domestic financing at GH?1,094.66 million”, we ask if this does not mean government is going to borrow more money from the domestic banking system. Will this not lead to squeezing more money from the system leading to higher borrowing costs for businesses and individuals?

How then, I ask President John Evans Atta Mills, has the welfare of Ghanaians increased? Has the human condition of Ghanaians improved significantly since January 2009? Definitely not!

Papa Kwesi Nduom 18 July 2012