Former Minister for Petroleum in the John Dramani Mahama era, Emmanuel Armah Kofi Buah has teased the ruling New Patriotic Party government, saying its magic wand to turnaround the fortunes of the economy has woefully failed.
“The government that says they have the magic wand to address the problems has woefully failed. They said the private sector would be strengthened, but what do we see, the private sector is really on its knees. It is collapsing. Borrowing has gone to the roof. In less than two years they have borrowed 48 billion cedis in new debts. You know what is worse, the promises of ramping in more revenue have not happened” he said.
Speaking in a pre-budget statement discussion, Mr. Armah Buah who also doubles as the opposition National Democratic Congress (NDC) Member of Parliament for the Ellembelle Constituency in the Western Region said all the performance indicators given by the current government in the last budget has not materialized.
He wants the 2019 budget to address the financial sector recession in the country, adding that steps must also be taken to bring down the cost of petroleum products on the market.