- Former Finance minister, Seth Terpker, had earlier stated that the NDC has stabilised the economy
- Kennedy Agyapong dismissed the claim, explaining that the economy was in tatters when the NPP took office
- He added that banks should reduce their interest rates, so that entrepreneurs and investors could easily access capital for their businesses
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The member of parliament (MP) for Assin Central, Kennedy Agyapong, has stated that the National Democratic Congress (NDC) left behind a bad economy.
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This was in reaction to a statement by the former Finance minister, Seth Terkper, that the NDC left behind a stabilized economy.
Terpker, on the Citi Breakfast Show in January 2017, asserted that the NDC has brought the economy to a point of stabilization.
He is alleged to have added that there has been a clear turnaround.
The former minister went on to say that growth was increasing, the cedi had stabilized and inflation was gradually falling.
The MP however dismissed these claims, and stated that the New Patriotic Party (NPP) inherited a bad economy.
He added that the NPP is doing all it can to stabilize it.
This, he said, is reflected in the details of the budget as presented by the finance minister to parliament.
Airing his views on ‘Badwam Mpensenpensenmu’ on Adom TV, Agyapong said that “they left a bogus economy…horrible economy.
They didn’t know their whereabouts. They were collapsing the country.”
Kennedy Agyapong further stated that the fact that the annual average rate of debt accumulation had declined from 36.0% to 13.58% over the last nine months, was good news.
“…we have started building again. We are serious about the content of the budget.” The MP added.
The minister of Finance, Ken Ofori-Atta, earlier said that Ghana’s debt to GDP ratio has declined from 73% at the end of December 2016 to 68.6% at the end of September 2017.
This was during the reading the 2018 budget on the floor of parliament.
The MP further applauded the Finance minister for a release of $150 million to the banks.
This is intended to assist the banks in granting loans to investors and businesses.
He however expressed worry about the high interest rates charged by the banks.
To him, the banks should either reduce their interest rates or provide soft loans to thriving businesses.
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