Politics
NDC On Standby to Rescue Deteriorating Economy – Mahama
Former President John Dramani Mahama has said the National Democratic Congress (NDC) is ready to assist in rescuing the country’s economy from its current state.
“We in the NDC stand prepared to aid in the salvage effort because inaction is not an option in the face of disaster,” the former President noted in a statement issued on Monday, 7 February 2022.
According to the former President “the clock is ticking very fast and the time to act is now” in order to salvage the deteriorating economy.
According to the former President, “there is no dispute that the Ghanaian economy is in deep crisis, a crisis marked by huge budget deficits, an unsustainable public debt, rising inflation, a rapidly depreciating currency, ever rising cost of living and a loss of confidence by both domestic and international investor communities.
“The effects of these have been severe hardships and suffering for the people of Ghana, especially those within vulnerable groups. As a result of the horrendous low point we have now reached, it is very clear that urgent intervention is required to avert a total collapse of the economy.”
He further noted that the Akufo-Addo-led government instead of finding solutions to the country’s economic crisis have resorted to imposing taxes on electronic transactions as a remedy to the situation.
“President Nana Akufo-Addo and his Head of the Economic Management Team, rather appallingly, remain nonchalant in the face of this serious crisis and have limited their response to the imposition of very harsh and regressive tax measures, one of which is the E-Levy, which has been roundly rejected by the people of Ghana.
“Like one drowning and yet clutching at mere straw to stay afloat, this government has banked all its hopes on the E-Levy, which, given the gravity and depth of the problems that have beset our economy, is neither adequate nor viable as a sustainable response to the crisis,” he stated.
