Stephen Amoah, a Nhyiaeso MP, has remarked that the impact of the Covid-19 pandemic in Ghana cannot be comparable to the power crisis that afflicted the country during the Mahama administration.
He claimed that the pandemic and the Russia-Ukraine situation are the primary factors influencing the state's economic growth and productivity, which he believes outweigh the 'dumsor' difficulties.
He claims that if the National Democratic Congress (NDC) had been in power under the current circumstances, the country would be in ruins. In comparison to the pandemic, he said the party's handling of the electrical situation was weak.
"Let's not act as though this is a one-of-a-kind situation. I don't believe the NDC could have done any better if they had been in power. You can never compare the situation under NDC, the dumsor crisis, to today's situation.
"I don't believe we had a situation where hotels, restaurants, and market ladies were urged not to come out at all and stay at home to hinder output; they are different, even if debt alone is considered rather than GDP," he remarked.
In an interview with Newsfile, the Parliamentary Finance Committee member stated that economic difficulties should not be politicized, but rather addressed holistically. "There's a problem that needs to be addressed. One of the most fundamental inconsistencies plaguing us as a country, which cuts across all sectors, is that successive governments frequently borrow at higher interest rates on our domestic markets than the private sector.
"This is wreaking havoc for GUTA, AGI, investments, and other businesses." I haven't seen anywhere, at least in developed economies, where T-bills can provide higher returns than hazardous private-sector investments, so it's something we should consider. He added, "Let us appreciate these things in the context I am talking about because it is a worldwide crisis."
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