June 13, 2024
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Ghana’s economic woes are self-inflicted, caused by NPP – Mahama

The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has expressed that the economic challenges inundating Ghanaians are self-inflicted and caused by the current government.

Delivering a speech at the 9th Ghana CEO Network Business Cocktail, the former president indicated that his 24-hour economy policy will bring reprieve to suffering Ghanaians burdened with nuisance taxes.

“Undoubtedly, the economic catastrophe we face is self-inflicted and caused by this government. However, for the sake of Ghanaians and the future of our dear country, we cannot allow the status quo to continue,” Mahama bemoaned.

He added that the 2024 budget, which was approved on Thursday, December 7, is laden with burdensome taxes that “will further whittle away the capital of Ghanaian businesses and hinder their competitiveness” but it is for that reason he is proposing and ready to implement his 24-hour economy policy to salvage and revive what would be left by the current government when he is elected president.

“Meanwhile, the 2024 budget and financial estimates of the government presented to parliament have introduced, yet again, a raft of taxes that will only add to a list of already burdensome taxes. These taxes, combined with very high interest rates, will further whittle away the capital of Ghanaian businesses and hinder their competitiveness.

“As flagbearer of the National Democratic Congress, I have put forth several proposals to ensure that the economy is returned to a stable footing and that economic activity is expanded for job creation and growth.”

Mahama further pledged that the next NDC government will commit to stringent fiscal discipline to cut down on state expenditure.

“I have committed the future NDC government to stringent enforcement of prudence and fiscal discipline in public financial management. Government expenditure will be cut and streamlined by significantly reducing the number of overlapping agencies and amorphous creations of this NPP administration.”

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