Bawumia does not understand basic economics – VEEP

arthurVice President Paa Kwesi Amissah-Arthur on Sunday took a swipe at critics of the National Democratic Congress’ (NDC) administration, especially the running mate of the opposition New Patriotic Party (NPP) Dr. Mahammudu Bawumia, who accused the government of mismanaging the economy and over borrowing.

He said such critics had it wrong when they claimed that the government has spent more on interest paid on loans than investing in the economy.

According to Mr. Amissah-Arthur this position alluded to by the opposition portrays it lacked the basic understanding of economics and of a “simple concept”.

.The Vice President was speaking on Sunday at Ashaiman in the Greater Accra Region at the launch of the party’s “Zone One” campaign for the December general election.

“Zone One” in the Greater Accra Region comprises, Ada; Sege; Ningo-Prampram; Shai-Osudoku, Kpone Katamanso; Ashaiman; Tema East; Tema Central and Tema West.

Dr. Bawumia, recently, at a lecture slammed the government, accusing the President John Mahama of deceiving Ghanaians of undertaking massive and unprecedented infrastructure development.

He further said the Mahama-led administration had borrowed massively but spent less of the money and asked Ghanaians to demand the rest.

According to Dr Bawumia the government had borrowed 39 billion United States (US) dollars, but has only spent less than 7 billion US dollars in infrastructure development.

Speaking about the issue at Ashaiman, Mr. Amissah-Arthur said the opposition did not understand basic economics and wrongly chided the government.

“This one is a simple thing that we learn in primary school. I do not see how people who have qualification cannot understand this simple concept,” he said.

He said “anybody knows that if I borrow money to pay for a road and it is going to take ten years to pay for that loan, every year I take one-tenth of the money and use it to pay part of the loan “.

“There is no way you are paying interest for nothing at all. You pay interest only for projects you have borrowed money for. So how can you say we paid interest more than expenditure? It is that capital expenditure money that you are paying as interest.”

Mr. Amissah-Arthur who is also the NDC’s running mate for the general election noted that the party has embarked on a “house to house”campaign as part of its strategies to retain power and urged all party supporters to work hard to achieve this.

He said the “house to house” exercise was intended to get to the grassroots and also reach out every nook and cranny of the country.

The Vice President urged the Greater Accra Region NDC branch not to give the party nothing less than 90 per cent of the votes and cautioned members not to vote “skirt and blouse,” for “it would be a big mistake”.

He said the party needs a president and majority in Parliament for the government to function effectively.

Mr. Amissah-Arthur stated that the party like any other human institution is not perfect and therefore wherever some members may be aggrieved, they should forgive and get on board to ensure the party wins more votes to retain power and “continue its good work”.

From Dzifa Tetteh, Ashaiman.




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