According to him, every Ghanaian including fresh born babies are indebted to the tune of GH¢3,500 considering the rate of debt incurred by the NDC government in 6 years.
He stressed that Ghana is retrogressing by every measure of the West African Monetary Zone as the Africa countries without oil with the exception of Nigeria have made significant improvement more than Ghana by 6.8 percent of Gross Domestic Product (GDP) as Ghana registered 5.8 per cent.
He added that those Africa countries in the league have seen an economic growth by 6.7 per cent but out of shame and embarrassment for poor performance, the NDC government for the first time over 20 years, the government took the league out of the 2015 budget.
He further assessed that the erstwhile Kufuor’s administration in 2008 left 8.4 per cent GDP in 8 years of his tenure without the oil Industry but the NDC government with all the talking has not come close to the 2008 GDP within the 6 years in power.
In currency depreciation, the NPP MP for Suame Constituency hinted that the cedi depreciated by 53 per cent under former President Kufuor, using 2000 as a base year as the cedi to the dollar was 1.1 in 2008.
He added that from 2008 to date, the cedi has depreciated by 200 per cent as cedi to the dollar rate is 3.3.
Considering the interest rate which is at 32 per cent and inflation rate, 17 per cent, Hon. Osei Kyei Mensah Bonsu said on Okay Fm’s Ade Akye Abia programme that the government should stop the propaganda and tell Ghanaians the truth that there is no hope in the 2015 budget.
He however debunked that he has never said the country has what it takes to meet its demand and so borrowing is wrong but rather cautioned that the loans should be used for profitable ventures which can help the country to pay back the loan with its interest.
“This government in 6 years has borrowed GH¢27 billion while Kufuor left office with GH¢9 billion debt within 8 years. The debts incurred by this government do not include the recent loans Parliament has approved...now if we should share the debt of the country, every Ghanaian including a fresh baby born today owes GH¢3,500. Our budget is around GH¢30 billion and GH¢9 billion will be used to pay the interest on debts and not the actual debts of the country,” he stated.
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