The major opposition New Democratic Congress (NDC) has spelled doom for the government’s 2018 plans, saying the budget [yet to be read] cannot create jobs.
NDC spokesperson on Finance, Casiel Ato Forson, at a press conference the party held in parliament Monday, made the declaration as a conclusion to a series of other gloomy verdicts he dealt on the 11-month-old Akufo-Addo-led NPP government.
According to Mr. Forson, the 2018 budget contrary to the expectations of the New Patriotic Party (NPP) government, will not create any jobs to alleviate Ghanaians from their sufferings because of some four reasons he explained on behalf of the NDC.
The first reason he gave was that the commercial banks in the country cannot lend money to private businesses because the banks are in big distress since they were coerced into issuing bonds which he described as “death swaps”.
“We thought the bond will be issued to free liquidity space but unfortunately the bond was unsuccessful so the banks have no liquidity”, he said.
Also, there’s a severe austerity looming in 2018 likable to that of 1983 during the infamous famine. Mr. Forson and the NDC believe so because according to him, there is a budget deficit of 3.8 which is in the know of the Bretton Woods Institutions [World Bank and IMF] as well.
Thirdly, “how can you create jobs when you have mandated the central bank [Bank of Ghana] to pursue tight monetary policy,” he asked.
The last reason he gave was that the real sector is projected to grow at the same rate it did a year ago.
“The real sector, the non-oil GDP is projected to grow at the same level in 2018 as it did in 2016”, this the minority finds abysmal.
He ended by cautioning government appointees not to intimidate NDC members when they apply for jobs because “we pay taxes as well and we are also Ghanaians”, he said.