NPP are Better Managers of Economy- Majority Leader
The Majority Leader on his part in contribution to the final debate for the Budget approval, touted the achievements of the government in barely eleven months and appreciated the contributions of each member regarding the debate process and their input.
He said, the facts and figures available indicate that, the New Patriotic Party (NPP) is better managers of the economy.
He indicated that the GDP growth rate inherited by former President Kuffour in year 2000 was 3.7%, and this grew to 4.2% in 2001, to 4.5% in 2002, rising to 5.2% in 2003, 5.6% in 2004, 5.9% in 2005, 6.4% in 2006, 7.3% in 2007, 8.4% in 2008 and 9.1% after rebasing at a time oil revenue had not been added.
He said under the NDC the size of the economy inherited was about Five Billion One Hundred Million Dollars ($5.1b), this had increased at the existence of the NPP, to about Twenty Eight Billion, Eight Hundred Million Dollars ($28.8b), representing an increase of about 400%.
The Majority Leader also said, in 2009, Ghana under the NDC had a Gross Domestic Product (GDP) growth rate of 4.8% from the 9.1% under the NPP to 7.9% in 2010, 14.0% in 2011, and reduced to 9.3 in 2012 when even Ghana had started commercial exploration of oil.
In 2014, it got to 4.0, 3.8% in 2015 and 3.7% in 2016, all with oil money, giving Ghana its worst performance in sixteen (16) years.
Today, the growth rate is now around 7.9%, an indication that the NPP are better managers of the economy. He emphasized.
Earlier, business of the House begun with the presentation of the Annual Budgets Estimates of the Audit Service for the year 2018, Annual Budget Estimates of Parliament and the Parliamentary Service for the year 2018 and the Annual Budget Estimates of the Judicial Service for the year 2018, all presented by the Majority Leader and Minister for Parliamentary Affairs, Hon Osei Kyei Mensah Bonsu; with all papers referred accordingly to the Finance Committee of the House by the Speaker.
The Defense and Interior, Local Government and Rural Development, Youth, Sports and Culture and Works and Housing Committees sat for the day
Similarly, the Reports of the Committees on Local Government and Rural Development, Roads and Transport, Constitutional, Legal and Parliamentary Affairs, Office of the Civil Service, National Development Planning Commission, Joint Venture Committee on Lands and Forestry and Lands and Natural Resources and others (all) on their Annual Budgetary allocations were presented.
Members earlier observed the ‘International Week of Parliamentary Structures’ with various statements concerning an all inclusive and efficient Parliament.