Minority pulls no punches on Akufo-Addo’s economic performance

The Minority in Parliament is accusing President Nana Addo Dankwa Akufo-Addo of misrepresentation on issues of the economy.

Minority Spokesperson on Finance, Casiel Ato Forson told Evans Mensah on Joy FM’s Top Story Tuesday, the President has the proclivity for projected figures instead of actual figures on matters of the economy.

At his first encounter with news editors at the Flagstaff House, President Akufo-Addo hawked his government’s economic performance in the last six months.

He said the inflation rate has dipped from 15.4 percent in December, 2016 to 12.1 percent as at June, 2017, the lowest in four years.

“The benchmark 91-day Treasury Bill rate was 22.8 percent in January 2016 and it is narrowed to 11.9 percent in June this year, the lowest in five years,” he told the gathering.

But these figures have ruffled the feathers of the opposition lawmakers who are accusing government of “misrepresentation” of figures on the economy.

Mr Ato Forson said the Treasury bill rate as at December 5, 2016 was 16.9 percent, a development he said was due to the past government’s prudent economic measures.

He also said President Akufo-Addo’s 11.9 percent interest rate comment was false. “It is about 12 percent,” the former deputy Finance Minister proffered.

“The numbers he is making reference to are just projections…we have seen signals that the real debts to GDP is 5.4 percent,” Mr Forson said, adding “this is going to hurt the nominal GDP.”

“Revenue is underperforming big time,” the Ajumako-Enyan-Esiam lawmaker said.

Mr Forson noted the country’s debt stock will increase because of government’s “wonderful appetite” for borrowing. “We are waiting for the mid-year review based on the actual numbers.”