President of policy think tank Institute for Liberty and Policy Innovation Mr. Peter Bismark Kwofie has mocked Vice President Dr. Mahamudu Bawumia over the lattter’s ‘state of the economy address.
Analysing the statement delivered by the Vice President, he opined that Dr. Bawumia used figures to justify the government’s failed policies.
In his view, the second gentleman of the land engaged in propaganda instead of delivering the true state of the economy.
“This is not economics it’s propaganda. Irrespective of how slow the cedi depreciated against the dollar, the cedi never appreciated against the dollar since 2017.
He said “to compete on the degree of depreciation of one regime to another is bad for the NPP government. The Competition should be on the appreciation of the cedi against the dollar from GH5.9 to a dollar to GH3.9 to a dollar. This is were conversation is needed”.
Mr. Kwofie went on to state that the Vice President use the event to describe what he termed as theory of the economy over the realistic measurable impact of government interventions but failed to to look at the real impact of these measures.
“Dr. Bawumia Described the theory of the Ghanaian economy over the realistic measurable impact of government interventions.
Upon all the pendulumic sectoral growth from industry to service, it did not have have any trickledown effect,” he said.
“There was too many state interventions that caused the taxpayers more than necessary. These interventions including FSHS, NABCO, Planting for good and jobs, 1D1F, 120 ministers, banking sector clean up, NEIP, uncoordinated subsidies in the Agricultural sector, and unquantifiable tax cuts and abolishment caused the state huge sums of money.
The intentions of government programmes being vote buying and regime protection never achieved the policy intent to drive the growth needed for job creation and improvement of standards of living,” he added.