Member of Parliament for Bolgatanga Central Constituency, Isaac Adongo says the National Democratic Congress (NDC) are better managers of the Ghanaian economy than the governing New Patriotic Party (NPP).
According to Isaac Adongo, economic indicators show that the Ghanaian economy performed better and had brighter prospects under the Mahama’s regime which spanned from 2013 to 2017 as compared to its performance in the last 4 years under the current government.
He added that projected fiscal performance of the economy for the second term of the Akufo-Addo’s government indicates that the government will, after its 8 year rule in 2025, be unable to match up with the 4 years of the erstwhile Mahama’s regime in terms of revenue mobilization.
Backing his claims with figures, Mr. Adongo stated that total revenue mobilization under the Mahama’s administration was 17. 9 percent of GDP on the average while the Akufo-Addo’s government in the last 4 years only managed to raise 15.2 percent of total revenue and grants on the average and is expected to end its second term in office with 16.8 percent which will still be below that of the Mahama’s regime.
“I will now turn my attention to government’s fiscal performance from 2013 to 2016 which is John Mahama’s era and from 2017 to 2021 which is the first half of Akufo-Addo and Bawumia and the projected mid-term up to 2024 which is the entire 8 years against 4 years. Here, I’m comparing their record in 8 years to our record in four years.
- E. John Dramani Mahama from 2013 to 2016 did average total revenue and grants of 17.9 percent, almost 18 percent of GDP. The first 4 years with one of the best economists in the world as the head of the Economic Management Team, they did 15.2 percent. I don’t see how 15.2 percent is a better manager in raising revenue than 17 to 18 percent. Between 2021 and 2024, their last term, they are still telling us that they can’t do better than 2016. They say the best they can do for total tax revenue for that period is 16.8 percent. It will still not be up to 18 percent,” he said while delivering a lecture at a forum organized by the Coalition for Restoration.
He further stated that the NDC’s government led by former president Mahama performed better in domestic and tax revenue generations as compared to that of the Akufo-Addo’s government in its last four years and its entire 8 years per government’s projected figures.
“With domestic revenue, that is revenue without grants, John Mahama did 17 percent as against 14.8 percent. When it comes to tax revenue alone, we did 13.3 percent and they did 12 percent. Between 2021 and 2025 per projected figures, in terms of domestic revenue, they can only do 16.6 percent, it is not up to 17 percent. They are saying that when it comes to tax revenue, they will do 13.2 and not 13.3,” he added.
Mr. Adongo, who expressed worry over the decline in revenue mobilization, contended that the continuous dip in revenue will negatively affect government’s finances as it will be left with no option than to resort to borrowing and further piling the country’s debt stock.
For him, the government’s claims of being better managers of the economy are nothing but mere rhetoric.
