Chairman of the New Patriotic Party (NPP) Minnesota Chapter in the United State of America (USA), Joseph Boakye Danquah, has spiritedly defended the country’s economy, saying that strengthening the macroeconomic fundamentals is the primary goal of the Akufo-Addo led-government.
He said the improvement of the various economic indices is a confirmation that the NPP “is building the fundamentals of this country in the right direction”.
“Building strong economic growth is similar to manufacturing a car. You only see the tyres and other body parts from outside, but what actually makes the vehicle move is the engine, which is inbuilt.
“That is what the NPP government is doing. They are building the country, they are building the economy, but they have to start from scratch,” Mr JB Danquah added.
The American based business magnate, who has declared his intention to contest the Subin parliamentary seat, said these on Accra based Okay FM on Wednesday prior to the reading of the 2020 budget by the Finance Minister, Ken Ofori-Atta.
According to him, suggestions that government was not making enough capital expenditure was wrong and misleading, insisting the huge investment in education could be considered as capital investment.
“Free SHS is capital spending. As a developing country, if you invest in the human resources of your people, we should consider that as capital spending. Capital expenditure is about the future so if we are spending in the future of our children, it’s the same as capital investment”.
In a thinly veiled attack on the NDC, he said, the NPP would not create avenue for government officials to syphon public funds in the name of building infrastructural projects.
While appreciating the existing economic challenges, he added that, building a strong, resilient and capable economy does not happen overnight.
“That is why the Ghanaian people should keep hope alive and trust in the Akufo-Addo administration to propel the economy to greater heights,” he stressed.
On the government’s industrialisation drive, JB Danquah added that the One-District-One Factory, One village, One Dam, digitization of the economy coupled with other flagship programs, would boost economic growth to create more jobs for the Ghanaian people.
He said it is imperative for government to take steps to compel banks to reduce interest rate as it contributes to the high cost of production in the country.
“If consistently government has reduced the policy, I don’t see why the banks should keep the interest rates at high levels. Going forward, government must take steps to reverse the trend,” he added.