The opposition New Patriotic Party has dismissed government’s claims that Ghana is making better economic progress than Kenya, Senegal, and Ivory Coast.
NPP Member of Parliament (MP) for Obuasi West Constituency, Kwaku Kwarteng wondered why those countries have not gone to the International Monetary Fund (IMF) for a bailout as Ghana has had to do.
Government has been basking in an IMF report indicating Ghana has achieved some significant progress on the economic front.
In a twelve page statement issued by the Communications Ministry buoyed by the IMF World Economic Outlook report for 2016, the government claims Ghana’s Gross Domestic Product (GDP) per capita of 1, 340 is higher than that of Cote d’Ivoire, Senegal, and Kenya.
However, it turned out Kenya’s comparison was false. The East African country’s GDP per capita is 47 dollars more than Ghana’s.
Speaking on Joy News, the Communications Minister, Dr. Omane Boamah admitted government erred in that comparison.
“I noted the challenge that you are trying to bring up that has to do with a minute note that we have made about Kenya which is about 1, 388 there about,” he said to the host of Joy FM’s Top Story, Evans Mensah.
“Kenya [GDP per capita] is higher than that of Ghana and I have noted it at the beginning,” he added.
This Mr Kwarteng found very worrying considering the “too much noise” government has been making about the contents of the IMF report.
“It is this kind of propaganda way of managing an economy that has led to the kind of economic mess which we find ourselves,” he said.
Part of the statement also read that Ghana’s current per capita income “represents 5.9% increase over the 2008 figure of US$1,266.1”.
This in real terms means the governing National Democratic Congress (NDC) has added 74 dollars to the per capita income in the space of eight years.
But speaking to Joy News, Head of the University Of Ghana Department Of Economics cautioned the use of such statistics especially when they are not well calculated.
Profesor Peter Quartey said the 74 dollar increment in eight years cannot pass as a significant economic progress.
“We should be very careful otherwise we abuse statistics,” he said explaining “between 2008 and 2015 you have eight years that is basically an increase of 72 dollars.”