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Business News of Monday, 8 April 2019

Source: www.ghanaweb.com

Investors' worst perception of NDC economy better than their perception of NPP economy - Isaac Adongo

Member of Parliament for Bolgatanga Constituency, Mr Isaac Adongo, says Ghana's economy has deteriorated over the last two years such that it is no longer a preferred place of investment and the business community in general in Africa and the world at large.

He said various reports showed that the worst perceptions of global investors about an economy managed by a National Democratic Congress (NDC) is still better than the perceptions of those investors about an economy managed by the New Patriotic Party.

He quoted Ghana's rankings over the years in the Rand Merchant Bank's 'Where to Invest in Africa' and another report by the economic agency of the United Nations.

Those reports track global investors' perceptions about countries and their operational environments for business to thrive.

"Ghana’s fiscal quagmire has been recognised internationally as businesses and the general private sector reel under severe economic and deteriorating business environment. The 2019 edition of Rand Merchant Bank’s (RMB) annual report dubbed 'Where to Invest in Africa' shows a Ghana in need of urgent help. Our country, which ranked 5th in 2018, slipped four places to now be ranked 9th after two years of deteriorating investments in critical infrastructure and worsening corruption," he said at the NDC lecture on the state of the economy.

"It will interest you to note that Ghana was ranked 5th in 2017, worse than the 4th position that we occupied in 2015 and 2016. In 2014, Ghana was actually ranked 3rd on that same enviable ranking" Mr Adongo said.

"In effect, the worst perceptions of the global community about an economy managed by the NDC is still better than the best perceptions of those same investors in an economy managed by the NPP.

"This is neither Isaac Adongo nor General Mosquito or John Mahama speaking. It is data and facts speaking, the very data Dr Bawumia saw but ignored for obvious reasons" he added. He said that "so while Ghana has remained a country governed by PR in a circus and by persons exhibiting blood lines of the famous P. T. Barnum, a celebrated publicist of 18th century fame, and without appropriate renewal and improvements in its economic and operating environment, our neighbours are busily working, talking less but overtaking us convincingly.

"No wonder containerised cargo through our ports grew by a sluggish four per cent in 2018."





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